Guaranty Trust Bank and Fortis Microfinance Bank have partnered with MTN to launch Fortis Mobile Money, the second mobile money transfer (MMT) service in the country, using MTN's advanced telecommunications infrastructure.
The service would enable mobile phone users remit money to loved ones and friends using mobile handsets.
Recently, the Central Bank of Nigeria (CBN) gave final approval to 11 companies to commence mobile money services across the country following a series of tests.
Mobile Money is a fast, safe, easy, convenient and affordable way to send and receive money across the country and pay for goods and services using MTN mobile line.
Chief Executive Officer, MTN Nigeria, Mr. Brett Goschen, said that the much awaited mobile money service would dramatically change the face of communications and financial services in Nigeria and provide a whole new and exciting experience to Nigerians.
"We are confident that not only will Mobile Money take formal financial services or banking to the unbanked, but it will also open up a wide range of benefits and value added services to the banked sector including corporate, small and medium scale enterprises (SMEs) and individual users," said Goschen.
Goschen said, "Today's launch of Mobile Money is one step further in our vision to not only be the leader in telecommunications or voice and data services, but in all the ramifications of Information and Communications Technology services in Nigeria. The advent of smart phones which have driven mobile data usage in addition to convergence of banking, media, entertainment with telecoms also provides us with ample opportunities to meet the needs of our customers in the short and longer term horizon."
Also speaking at the launch, Chief Executive Officer, GT Bank, Mr. Segun Agbaje, said Mobile Money was a positive step to achieving financial inclusion in Nigeria.
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