GTB partners MTN to promote financial inclusion

GTBank Plc has announced a strategic partnership with MTN Nigeria with the aim of promoting financial inclusion in the country.To this end, both companies inaugurated a product, tagged, Mobile Money, which is targeted at the over 30 million unbanked population in the country.In a statement made available to our correspondent on Thursday, the Managing Director/Chief Executive Officer, GTBank Plc, Mr. Segun Agbaje, said that Mobile Money would help mobilise funds from the unbanked and channel the funds to productive sectors of the economy where the funds were needed.He explained that the product would afford subscribers the opportunity to transfer money, pay bills, top up on airtime and shop from their mobile phones, among others.The statement quoted Agbaje as saying that the product was all about financial inclusion, as it would help bring the unbanked into the banking system, through simple technological inputs and devices.He noted that financial inclusion would help drive the growth and development of the Nigerian economy, as funds would be made available to critical sectors in need of funding.He said, The benefits of Mobile Money, include immediate money transfer and payment by customers from the comfort of their MTN mobile phone, while every transaction is secured by a PIN, which even when stolen, the money is secure.Other benefits are that it is very easy to use, convenient and cheaper compared to other alternatives, especially as there is no COT or any hidden charges; every transaction is done directly on the MTN line.He reiterated the commitment of the bank to ensuring that the product succeeded and that it contributed meaningfully to the growth of the economy.He continued, Mobile Money is the fast, safe, easy, convenient and affordable way to send and receive money across the country and pay for your goods and services using the MTN mobile phone.Also speaking, Chief Executive Officer, MTN Nigeria, Mr. Brett Goschen, noted that the product would not only take banking to the previously unbanked, but would also open up a wide range of benefits and value- added services to the banked sector, including corporate, small and medium sized enterprises, SMEs and individual users.He said, 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 peoples lives, but will also encourage banking as opposed to storing ones 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.
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