culled from: www.telecompaper.com
MTN Nigeria has called for changes to the regulatory framework to allow telecoms firms to lead mobile money systems, The Guardian newspaper reported. MTN official Quasim Odunmbaku said the Central Bank of Nigeria (CBN) regulatory framework expressly excludes telecommunications firms from leadership in m-payment implementation, but MTN has provided the necessary technological platform and made substantial investments towards the achievement of a robust, dynamic and secure m-payment system in Nigeria. Odumbaku said that in other countries with successful m-payment systems, telecommunications firms have taken the lead role. The CBN regulatory framework has identified three major models for the implementation of mobile payments services.There is the bank-focused model, which can only be deployed by a licensed deposit-taking financial institution; the bank-led model, where a bank or a consortium of banks ties up with others companies to deliver banking services; and a non-bank-led model, which allows a corporate organisation that is not a licensed bank and telecommunication companies to deliver mobile payments services.
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