More NewsMonitise Launches Secure Money Mobile in Nigeria

Monitise Launches Secure Money Mobile in Nigeria

Monitise, a global mobile money solutions provider, has launched a mobile payments service with its partners in Nigeria that allows Nigerians to send and receive money safely from their handsets. Nigerians can now make deposits, withdrawals and transfers via a network of approved agents.

The pilot of the first Monitise branded customer-facing service targeted at the unbanked has been launched in four cities and 11 rural locations across four states under a Central Bank of Nigeria (CBN) provisional licence to develop the country’s mobile payments network. The CBN’s decision on the granting of full licences is expected in May 2011.

Although the service works across all mobile networks, Etisalat Nigeria is providing Monitise with access to their call centre, unstructured supplementary service data (USSD) service, promotional material, dealer network and agent assistance.

Monitise chief executive officer (CEO) Alastair Lukies said: “We are excited to pioneer this new cashless way for Nigerians to manage their money even in remote areas of the country via their mobile handsets. Crucially, this will help those without bank accounts securely access financial services. The piloting of our services in this key African market has been hugely promising. The next steps will be to develop broad-based services to extend the scope of the pilot to include other Nigerian bank partners.”

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

4w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

6m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

6m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha