GLOBACOM NIGERIA LAUNCHES NIGERIA’S FIRST MOBILE MONEY SERVICE

culled from: Nairabrains.com

The advent of mobile money has brought about a lot of changes and transformation has financial service provider prepare to close for the year, a lot of preparation has been made to plug into mobile money.

Mobile Payment Service in Nigeria got a huge boost with Globacom Nigeria lauching its mobile money service in partnership with UBA and Stanbic IBTC bank.

In its press released Glo announced:

Globacom has partnered with two major licensed banks to launch Nigeria's first mobile money service. Glo Txtcash, the new addition to the long list of firsts by the company enables mobile subscribers use their mobile numbers to store Electronic Value (E- Value) of money easily. 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!

Glo's Executive Director, Human Resources, Mr. Adewale Sangowawa on explaining about the service said that

Glo TxtCash will ensure that people will 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 initially in partnership with UBA(Afripay) and IBTC, with their wide network across Nigeria, Glo TxtCash is easily available, even in the most remote part of the country, in line with the CBN's objective of enhancing financial inclusion through a "secure, 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, to cater to subscribers across Glo Mobile network with the widest geographical coverage in the whole of Nigeria. "This initiative shall bring facilities similar to banking to the unbanked population through their mobile phones and will redefine their ways of life", he added.

Also speaking at the launch of the trail-blazing service, Globacom's Director, Telebanking, Ayotunde Kuponiyi, described the development as a landmark in customer care and convenience.

"With the combined Stanbic IBTC and UBA outlets pan Nigeria, coupled with the wide reach of the Glo network, banking has invariably been brought directly to the palms of Nigerians"

, he said.

Glo TxtCash can be accessed by all Glo subscribers after registration and dialing *866# for U-Mo and *909# for Stanbic IBTC MobileMoney. Existing Glo subscribers and new ones can perform various operations including: Deposit/Cash-In; Withdrawal/Cash-Out; Transfer from mobile to mobile; Buy Airtime credit for self or for others and Bill Payment. Other facilities are Account maintenance, balance enquiries, last transactions and mini-statement. It will also enable customers to request for PIN change.

Kuponiyi said the product is designed to encourage savings culture among Nigerians. "It requires less information to register for the services on mobile phones and it does not exclude any customer, regardless of the type of phone''.

what is your opinion of mobile money in Nigeria?

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