Mobile money: CBN gives eTranzact final nod

Following a successful trial by eTranzact International Plc on mobile money, the Central Bank of Nigeria (CBN) has given the firm final nod to commence full mobile money operation across the country.

eTranzact is a leading mobile and switching said with the latest final approval essentially marks the beginning of mobile payment revolution from the company.

The General Manager, Mobile Payment of eTranzact, Mr. Patrick Eregie, who confirmed this, said eTranzact Mobile Money is designed to allow users to conduct financial transactions anywhere, anytime.

The service, he said, is aimed at bridging the gap between the banked and the unbanked, stressing that eTranzact Mobile Money service is secure, convenient, cost effective and available for everyone.

“Mobile Money service has been specifically designed to give access to financial services for Nigerians in low banking coverage areas through the use of mobile phones and to create job opportunities for many Nigerians,” he said.

He explained that the mobile money service works on all the Global System for Mobile (GSM) communication networks, extending the capability of the user’s mobile phone into a highly interactive feature-rich payment device.

Mr. Eregie further said that this service offers various options such as cash withdrawal, cash deposit, purchase airtime recharge cards, funds transfer to bank accounts, cards and mobile phones and bills payment including settling of bills for Cable TVs, PHCN, school fees, health insurance scheme to name a few.

He noted that since inception, eTranzact has been the forerunner of mobile transactions services and have partnered with commercial banks to ensure the smooth run of the Mobile Money operation.

The eTranzact Mobile Money is truly the first mobile payment platform and it’s positioned to enhance the cashless policy in the country.

Remmy Nweke

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