eTranzact gets approval to operate mobile money

The General Manager, Mobile Payment, eTranzact, Mr. Patrick Eregie, has said that the company has received final approval from the Central Bank of Nigeria to commercially roll out mobile money in the country.Eregie, in a statement on Monday, said eTranzact mobile money was designed to allow users conduct financial transactions anywhere and anytime, adding that the service was aimed at bridging the gap between the banked and the un-banked Nigerians.According to him, the 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 saidHe further explained that the mobile money service worked on all the GSM networks, extending the capability of the users mobile phone into a highly interactive feature-rich payment device.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 (for Cable TVs, PHCN, school fees, and health insurance scheme, among others, Eregie said.Meanwhile, the Business Development Director, eTranzact, Mr. Sullivan Akla, said the company had put in place products and services geared towards facilitating the Central Bank of Nigerias cashless policy.He said, eTranzact is at the forefront in ensuring that the CBN cashless policy becomes a huge success. Over the years, we have built an e-Payment services platform that provides secure, convenient and cost effective ways for customers to carry out their transactions either through Automated Teller Machines, Point-of-Sales terminals, web and the mobile phonesThe first phase of the implementation of the cashless policy is scheduled to commence in Lagos with Operation Cashless Lagos from January 1, 2012.Operation Cashless Lagos entails full scale deployment of ATMs, the use of POS terminals by merchants, web payment and mobile money service.
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