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.”