NIGERIAN TRIBUTE
Stanbic IBTC Bank, has entered into strategic partnership with Globacom Nigeria, to make mobile money services available to Nigerians.
This innovative platform, Glo TxtCash, links about 23 million Glomobile subscribers to the secure and convenient Stanbic IBTC MobileMoney solution.
All they need do is simply dial *909# and capture a few details such as name, ID, security PIN. Using this same number, *909#, a customer can also check his or her account balance, and do other financial transactions such as funds transfer and bill payments through the mobile phone without having to physically visit the bank.
Head of Personal and Business Banking at Stanbic IBTC, Obinnia Abajue, said the partnership with Globacom Nigeria, which availed the bank the GloTxtCash platform to provide mobile payment services would break down the traditional barriers hindering financial inclusion of millions of Nigerians, adding that it would bring low cost, secure and convenient financial services to urban, semi-urban and rural areas across the country, opening a new channel of financial services delivery and complementing the Central Bank of Nigeria (CBN)'s quest to usher in a cashless economy in the country.
"Access to Stanbic IBTC MobileMoney through the GloTxtCash platform provides an entry route for people that would not ordinarily come into bank halls. It also provides the banked market an alternative to cash by getting them to do basic transactions using the Glomobile network. We are leveraging the growing pervasiveness of the Glomobile network and the knowledge users have of the mobile phone to deliver non-traditional, low cost financial services to all Nigerians," he said.
Executive Director, Globacom Nigeria, Adewale Sangowawa, said the launch of GloTxtCash in partnership with Stanbic IBTC Bank was in line with the commitment of Telecommunications Company to empower its subscriber by providing them with innovative applications and services.
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