eTranzact begins mobile money operations, targets 50,000 agents
Written by Dayo Oketola
eTranzact International Plc, one of the first companies to receive mobile money licences from the Central Bank of Nigeria, has inaugurated its mobile money service: PocketMoni.
The mobile money solution is mainly targeted at the country's over 80 million adults who have never had bank accounts and it is expected to draw them into the formal financial landscape by providing access to financial services at affordable rates.
Speaking during the introduction of the m-Payment solution to journalists in Lagos, on Friday, the Managing Director and Chief Executive Officer of the company, Mr. Valentine Obi, said PocketMoni was a mobile payment solution developed for any mobile user with any mobile phone to conduct transaction anytime anywhere.
He said, "With PocketMoni, your mobile phone becomes your bank while your mobile number becomes your account number. It fits perfectly into your lifestyles. It will allow you to conduct mobile transactions on your phone."
The eTranzact boss explained that the m-Payment service was designed for everyone including the old and the young, upwardly mobile youths, artisans and students.
Speaking on how it works, Obi said PocketMoni allowed subscribers to send money, free-of-charge to any bank account or mobile phone in the country, adding that they could also pay their DSTV, HiTV, MyTV, PHCN bills, among others, via their mobile phones.
He also said a subscriber could also recharge his phones and get up to five per cent bonus on all airtime top up on all networks.
He added that subscribers could not only pay for goods with their mobile phones, but would enjoy all transactions at no costs.
He, however, said the free-of-charge offer would only last for one year, adding that it was aimed at encouraging people to embrace the cashless initiative.
According to him, the new m-Payment solution was introduced into the Nigerian market just about the right time considering the fact that the cashless system takes off in Lagos as a pilot project, from January, 2012.
"Going cashless is the right way to go. It is a lot of savings for the country.
"There will be a lot of challenges but they will soon be surmounted."
Obi, who disclosed that the e-Payment company already had agents locations across all the states of the federation, noted that efforts had been put in place to increase its agent networks to 50,000 in the next 12 months.
He said, "We already have locations in all the states but our plan is to roll out 50,000 agent network before the end of 2012. We have started before but we had to stop because the CBN asked us to, however, there is now a green light and we will begin to recruit agents again and train them. This will enable us to cover the rural areas where basic former financial services are lacking."
He explained that the m-Payment solution could be used either on the GSM or CDMA network, adding that eTranszact would not discriminate between one network and another.
"According to our licence, the CBN has told us that we are independent and must not discriminate against any network. Our mobile money service is already on the GSM and CDMA networks."
The General Manager, Mobile Payment Services, Mr. Patrick Eregie, said a user was only required to send an SMS to a short code to have a mobile money account opened.
4 Ikosi Road
Ikosi-Ketu Lagos-Nigeria234 805 783 8282
234 806 361 2572
234 809 514 5111
234 807 070 8795
234 805 844 9177
No comments:
Post a Comment