Making the right choice of cell phones

When the global system of communication (GSM) was introduced in 2001, handsets like Nokia 3310, Sagem MC 920 and Motorola, which are today referred to as palasa, were in use. Eleven years on, the mobile phone industry has become more sophisticated. In the place of palasa are now sophisticated handsets which can perform wonders. Where to buy them is as important as what the customer gets, writes JANICE NKOLI IFEME.

Before the introduction of GSM in 2001, mobile communication was ‘strictly’ for the ‘big boys’. Those who had a dial-up landline at home or work were among a privileged few. A walkie-talkie or pager was a revered asset. And the ‘090’ was not for everyone - it was for the ‘rich’. Some even used it as a symbol of ‘oppression’.

Electricity bill: Eko distribution company goes cashless

Electricity bill-Nigeria - As part of the efforts to provide seamless electronic-payment services for customers to pay their electricity bills from the comfort of their homes and offices, without going to the bank or any office of the Power Holding Company of Nigeria (PHCN), the Eko Electricity Distribution Company (EKEDC) has launched the PHCN utility card in partnership with eTranzact International Plc.

Speaking at the launch of the service in Lagos recently, Chief Executive Officer of Eko Distribution Zone, Mr. Oladele Amoda, stated that the purpose of the scheme was to make life easier for customers.

MasterCard Hosts Cashless Payments Workshop

MasterCard Worldwide has hosted several leading Nigerian banks at a training workshop that shared insights into global best practice in the electronic payments industry. This training has also keyed into the preparations made by the Nigerian Apex bank, Central Bank of Nigeria.

The training which held in Lagos, a city involved in the pilot phase of the cashless economy policy, focused on how financial institution can build effective business relationships with retailers, the vast majority of whom have always operated on a purely cash basis.

Mobile money services in Kenya

Western Union, Ericsson in deal to boost mobile money services - Western Union has entered into a partnership with Ericsson, which is expected to boost volumes of transactions on its money transfer service network and allow headroom to compete with Safaricom on price. The alliance announced at the Mobile World Congress 2012 in Barcelona, Spain promises to further intensify competition in the now crowded remittances and mobile-to-mobile money transfer services with mobile phone operators on the global landscape.

"The only way we can be able to reduce our unit cost is by increasing volumes and the number of transactions. We believe that this partnership should allow us to do this," Diane Scott, Chief Marketing Officer and President at Western Union Ventures told the Nation in an interview on the sidelines of the conference.

This comes at a time when Western Union's dominance in the global money transfer services has come under increasing attack from mobile phone operators worldwide. Phone companies are turning to mobile money transfers as a value added service as well as a means of diversification from the traditional voice service.

Mobile money: Consumers’ awareness stirs new challenge

The mobile money industry is expected to record a lot of activities this year following various synergies among operators both from the financial and telecommunications sectors. But the issue of consumer awareness and education may pose a stumbling block to faster and deeper penetration. ADEYEMI ADEPETUN writes.

NIGERIA has seen remarkable gains on mobile phone service uses as there had been rapid uptake of various services, key among them is the mobile phone based solution for money transfer, better known as mobile money.

According to analysts, high mobile phone penetration and limited branch network of commercial banks and micro-lenders are expected to drive the growth of mobile money in the emerging markets of Middle East, Asia and Africa, where it is hoped to cross one billion user-base, growing into a $22 billion industry across Africa by 2015.

A recent report by McKinsey, stated that in the emerging markets, formal banking reaches a mere 37 per cent of the population, compared with the more than 50 per cent penetration rate for mobile phones.

FirstBank Joins Forces with Telcos on Mobile Money Service FirstBank Joins Forces with Telcos on Mobile Money Service

First Bank of Nigeria Plc, Nigeria’s financial powerhouse has penned Memorandum of Understanding (MoU) with three telecommunication companies to provide seamless mobile money services as part of the drive to promote the cashless policy of the Central Bank of Nigeria (CBN), Nigeria CommunicationsWeek gathered.

The telcos; Etisalat Nigeria, Globacom Nigeria Limited and Airtel Nigeria Limited will ride on FirstBank’s robust banking infrastructure to provide seamless mobile money services to millions of Nigerians. 

Mobile money is the use of mobile phones to remotely access bank accounts, primarily for account inquiry, mobile transfer, retail payments, micro insurance, savings remittances, mobile top-up, utility bill payments and government collections among others.