On the 2nd of June, NairaBox launched its Mobile Wallet App for Android and iOS devices at a press event in Victoria Island Lagos. The new App from NairaBox will enable users pay bills, buy airtime, pay for events and cinema tickets, make donations, and more. The Mobile Wallet is currently available for Android phones, Android tablets, iPhone, and iPad.
Introducing the team and speaking on how easy it is to use the Mobile Wallet, Co-founder and Chief Operating Officer, Mr. Jay Chikezie said:
"You get Nairabox by following 3 steps which includes Downloading and Signing up, Add Funds, Use Nairabox...
If you own a shop, store, shopping mall or offer goods and services for sell in Nigeria, you should be preparing your business by now for the takeoff of the cashless policy of the CBN. How ready is your business for accepting e-payment from customers who prefer to shop cashless with electronic payment solutions? Have you started deploying e-payment solutions in your business, shops, and stores?
In this article, we show e-payment solutions that merchants must seriously consider for their business to run smoothly in a cashless Nigeria. Note that cashless Nigeria does not mean that people will stop shopping...
Mobile Money is a payment solution that enables you pay for goods and services with their mobile phones. It is one of the e-payment solutions available to Nigerians in a cashless Nigeria. It is at the core of the CBN’s cashless or cashlite Nigeria policy. In this article we will look at mobile money in Nigeria.
A number of providers have already been licensed by the Central Bank of Nigeria, CBN, to offer mobile money in Nigeria. Some are already rolling out services while others are planning to do so.
List of Mobile Money Services in Nigeria
OPay
MTN MoMo
Paga
...
While browsing through QuickTeller, I discovered a mobile money service I have never heard about before. The name is QikQik mobile money. With a little search about the mobile money service, I discovered that it is promoted by Eartholeum an electronic solutions provider. I also learnt that many months ago (June, 2011) National Directorate for Employment (NDE) launched NDE-QikQik Business Ownership Scheme aimed at creating jobs.
However, outside these there appears to be very little information about the QikQik mobile money service. Apart from a channel for funding QikQik at QuickTeller, there is no other sign of the existence of...
PocketMoni is the Mobile Money service offering of eTranzact. Formally called M-Teller, PocketMoni Mobile Money is a service that enables you create an e-wallet on your mobile phone for making payments, fund transfer, as well as for receiving money. PocketMoni is one of the Mobile Money services in Nigeria like MTN Mobile Money, that will help you survive in a cash-lite or cashless Nigeria.
The attraction in PocketMoni Mobile Money service for us is that it is accessible from most Networks and is supported by many banks. So, it is available to everyone irrespective of network or bank. The downside...
Mobile Banking is a value added service offered by a bank to enable customers conveniently and securely conduct their banking transactions on their mobile phone. A mobile banking platform will enable you transfer funds and check your account balance and statement without having to visit your bank. You can also buy airtime and pay utility bills with your banking platform.
How does Mobile Banking work?
Depending on your bank, mobile banking services are offered mostly via a Java based application, SMS, and more recently mobile apps on the Windows, Android, and/or iOS platforms. Some banks will offer all options but others...
You must have heard about the cashless policy of the Central Bank of Nigeria, CBN by now. Well, if you have not, it is a policy aimed at reducing the volume of physical cash circulating in the Nigerian economy and encouraging e-payment options. Core to the cashless (more like cash-lite) policy is the introduction of daily bank deposit/withdrawal limits above which account holders pay huge transaction costs.
Most articles on the cashless policy so far have focused on either announcing the policy or highlighting the challenges facing it.
Very few have actually focused on what payment and transaction options are available...
MTN Mobile Money (a.k.a MTN MoMo) is a service that enables users to send and receive money as well as make payments for products and services with their mobile phones. With MoMo, you can transfer money to any MTN user within any of the supported African countries. Note that cross-border transfers are not supported for now.
For now, you can only transfer to users within your own country. Mobile Money is offered by MTN in partnership with banks. It is one of a number of mobile money services that are available in Nigeria and across Africa.
MTN Mobile Money enables you...
U-Mo, the mobile money service from Afripay a member of the UBA group currently supports three account types. The three U-Mo e-wallet types vary in terms of their target market, per transaction limit, daily transaction limits and the documentation required for registration. The three U-Mo mobile money account types are U-Mo Silver, U-Mo Gold, and U-Mo Platinum.
U-Mo Silver Mobile Money e-wallet
This is the mobile money service for the masses. U-Mo Silver is the easiest to get as it requires no identification and no documents. All you need is fill a very short form (name, address, sex, occupation, and phone...
U-Mo is a mobile money service from UBA. The UBA U-Mo Mobile Money service is accredited by the Central Bank of Nigeria (CBN) and powered by Afripay, a subsidiary of the UBA Group. UBA U-Mo is a mobile money service, similar to the yet to be launched M-Teller mobile money service from eTransact, which enables users make and receive payments as well as conduct other financial transactions with their mobile phone.
UBA U-Mo enables you create an e-wallet on your mobile phone for handling your transactions like MTN Mobile Money. So, it turns your phone into a wallet. With the...
Google Wallet is a new mobile app by Google that promises to turn your mobile phone to your wallet. With Google Wallet, you can shop and pay for goods and services at physical locations using an NFC (Near Field Communications) enabled mobile phone. Google Wallet replaces your current plastic payment cards, by enabling you store virtual copies of your credit cards and gift cards on your mobile phone, saving you from carrying a multiplicity of physical cards. Google Wallet will also store offers, coupons, and loyalty cards enabling users to save while shopping. Google Wallet is currently available on...
eTranzact is one of the companies that got CBN Approval to offer mobile money services in Nigeria. The new mobile money service now called PocketMoni was formally called M-Teller Mobile Money. Here we will provide our thoughts about the new mobile money e-wallet service and how it may work based on information already released by eTranzact and operation of mobile money services in other countries especially Kenya.
eTrazact has launched the mobile money service as PocketMoni Mobile Money, you can follow the link to read more about the service.
According eTranzact, M-Teller service is a mobile money service designed to provide...
Electronic payment has come a long way in Nigeria, but still struggles to compete with the Nigerians love for cash. Nigerians love their cash so much that most transactions in the country are done with cash. Cash remains the preferred medium for payment in the country. Poor awareness of e-payment solutions, ignorance, poor banking culture, lack of trust, illiteracy and the love for the status quo have been fingered as responsible for the high volume of cash transactions in Nigeria.
Join us after the break for more on e-payment in Nigeria.
Need more info about e-payment?
You can also connect with us,...
