Africa’s mobile network provider MTN,has signed a memorandum of understanding with Fortis mobile money, a recently licensed mobile financial services provider in Nigeria and GT Bank to deploy mobile money solutions to millions of users in Nigeria. With the partnership, fortis mobile money will be available to every subscriber across different device types on Nigeria’s largest mobile network, MTN.
The mobile network is active in 21 countries in Africa and middle east and is rated as the continent’s most deployed mobile money system on the Fundamo platform. Forts Mobile Money is part of the Fortis Microfinance PLC, a leading provider of microfinance in Nigeria.
The partnership will see Fortis Mobile Money access the network infrastructure and distribution network of Africa’s leading mobile network provider in Nigeria. Henry Nwawuba, CEO at Fortis Mobile Money, “in our desire to deliver services that meets the strong compelling needs of millions of banked and unbanked Nigerians and justify the confidence of the regulator in us as the only licensed Microfinance bank in Nigeria for mobile money services, we actively sought partnerships that will meet our visions for the Nigerian markets. It is an exciting future ahead for us, working with Africa’s leading mobile network provider”.
According to MTN’s C.E.O., Mr. Brett Goshen, “For MTN, Mobile Money represents another opportunity to bring additional added value services to our over 40 million and growing subscriber base. “The use of mobile money products will not only improve the quality of people’s lives, but will also encourage banking as opposed to storing one’s earnings in cash. “Nigeria will also benefit, as the impact of Mobile Money will flow into the other segments of the society and have a multiplier effect on the economy.”
MTN Mobile Money enables users transform their mobile phone into an e-wallet. Any MTN subscriber with a mobile money compatible SIM can create an e-wallet on their mobile phone and deposit funds in it. Once funded, the mobile money account can be used to pay for goods and services with the mobile phone at participating merchants or transfer funds to friends, family, and clients.
MTN as industry leader comes with a proven and superb understanding of mass market telecommunications services offerings while Fortis Mobile Money with background in Microfinance is an industry leader in providing low value financial services for the bottom of the pyramid. It is a perfect entry strategy and a relationship built on mutual knowledge of the world most deployed mobile money system, Fundamo.
1 comment:
Mobile money is new service through which you transfer, receive money. Also this service is interesting one through which people have to never afford too much time in the back and ATM for making the money action from their account.
signal booster
Post a Comment