Nigeria's long awaited foray into the Mobile Money Transfer (MMT) landscape has begun with the launch of Glo Txtcash by Globacom, Nigeria's second national operator in Lagos yesterday.
The initiative which is the first by any company licenced by the Central Bank of Nigeria (CBN) will enable mobile subscribers use their mobile numbers to store Electronic Value (E- Value) of money easily and send to friends, family and associates without the need to visit a bank.
With this service, subscribers can transfer money to any mobile number, spend the money directly from their mobile money account to pay for goods as well as buy airtime top-up for themselves and others.
Speaking at the launch, the company's Executive Director, Human Resources, Mr. Adewale Sangowawa, said that Glo TxtCash would ensure that people would no longer carry a wallet and a mobile phone at the same time, anymore. "Your mobile phone now becomes your wallet, underscoring the convenience and safety of the service,'' he said.
Launched in partnership with UBA(Afripay) and IBTC,Glo TxtCash is easily availabile, even in the most remote part of the country, in line with the CBN's objective of enhancing financial inclusion through a secured, convenient and reliable mobile money account.
Sangowawa said that the objective of partnering with UBA and IBTC was to join hands with the foremost banks for their mobile money initiatives, and to cater to subscribers across Glo mobile network with the widest geographical coverage in the country. "This initiative shall bring facilities similar to banking to the unbanked population through their mobile phones and would redefine their ways of life,'' he added.
Also speaking at the launch, Globacom's Director, Telebanking, Mr. Ayotunde Kuponiyi described the development as a landmark in customer care and convenience.
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