30 results
- 19 Oct 2012
Cellulant Nigeria Prepares to Roll Out Mobile Money Services
Cellulant Nigeria, a mobile commerce network operator licensed by the Central Bank of Nigeria (CBN), the company plans to rollout services in early next year and has promised to deliver world class…
- 17 Mar 2019
Payment Service Banks in Nigeria, Lessons from the Past
By Emmanuel Okoegwale Ten years ago, there was great optimism that the licensing of mobile money providers will usher in a new era in the drive for greater financial inclusion and fill the vacuum…
- 19 May 2022
MoMo Payment Service Bank Formally Commences Operations
Following the final approval for a Payment Service Bank (PSB) licence granted by the Central Bank of Nigeria (CBN), MTN Nigeria’s fintech subsidiary, MoMo Payment Service Bank (MoMo PSB) Limited,…
- 6 Oct 2022
CBN grants Xpress Payments Mobile Money Licence
A subsidiary of Xpress Holdings Limited, Xpress Payments, has been granted a mobile money operator licence by the Central Bank of Nigeria. According to a statement, the licence allows XpressMTS to…
- 26 Jun 2022
MTN Alleges N22Bn Fraud on Mobile Money Banking
MTN Communications Limited’s newly licensed Mobile Money Payment Service Bank Limited (MOMO PSB) has alleged a fraudulent loss of N22 billion in one month of operations. In a suit instituted by the…
- 30 Jan 2019
Licensing Telcos for Payment Services, Threat to Banks- GTB
Guaranty Trust Bank otherwise GTB has said that the decision of the Central Bank of Nigeria (CBN) to license telecommunications companies for payment services is a threat to banks operating in the…
- 14 Aug 2013
60% Nigerians Unaware of Mobile Money Services
Latest weekly poll released by NOI Polls Limited reveals that almost 6 in 10 Nigerians (59%) are not aware of mobile money services. Furthermore, only 13% of those that are aware (49%) of the…
- 25 Jul 2016
Pirates Invade Mobile Payments Services Space
Unlicensed mobile payment companies have invaded the country’s mobile financial services ecosystem exploiting the weak regulatory enforcement system and stakeholders are not happy about it. …
- 21 Feb 2012
FirstBank Joins Forces with Telcos on Mobile Money Service
First Bank of Nigeria Plc, Nigeria’s financial powerhouse has penned Memorandum of Understanding (MoU) with three telecommunication companies to provide seamless mobile money services as part of the…
- 28 Sept 2015
Clash between Telcos, Banks Hobbles Mobile Money Growth
Individualities of banks and telecommunications service providers are hindering partnerships to reach millions of the unbanked and underbanked Nigerians under the financial inclusion scheme.…
- 14 Dec 2017
Huawei Partners Xpress Money to Expand Mobile Money in Africa
Global telecom Huawei, has teamed up with global money transfer company Xpress Money to expand mobile money services across the African region. The partnership will see Xpress Money have access to…
- 4 May 2010
Aitec Africa Holds Banking & Mobile Money Conference
Aitec Africa, a leading ICT publishing, event management, professional development and training in Africa will hold its annual Banking & Mobile Money West Africa Conference from 11 to 12 May at…
- 7 Dec 2023
NIBSS Orders Banks to Suspend Opay, Flutterwave, Others from Transfer List
Nigeria Inter-Bank Settlement System (NIBSS) has asked banks to delist Payment Solution Service Providers (PSSPs) Switches and Super Agents from its outward payment or transfer list. Payment Solution…
- 17 Aug 2013
Mobile Money Shunned by Unbanked Nigerians
The NOI polls recently has found that mobile money scheme has not been embraced by the unbanked Nigerians. Mobile money service is targeted at a particular group of people, the rural areas, the…
- 11 Sept 2012
Risks of Mobile Payment and Agency Banking
Nigeria is experiencing phenomenal growth in its banking and e-banking sectors with new policies and regulations that is driving cashlite, branchless Banking and agency banking services…
- 10 Apr 2019
BeepTool Unveils Seamless Mobile Payment, Money Transfer App
BeepTool, an indigenous tech start-up based in Lagos Nigeria has unveiled m-nairaApp, designed to bridge the gap in financial inclusion, mobile payment and remittance space. m-naira mobile app has…
- 23 Mar 2009
MoneyBox Gets CBN’s Mobile Banking License
Central Bank of Nigeria (CBN) has granted MoneyBox Nigeria Limited license to commence mobile banking that allow users virtually store and move money, make payments over distances and enable a host…
- 17 Dec 2024
Towards Cashless Societies: Mobile Money Leading the Way in West Africa
Lauded as one of the 21st century’s most transformative financial tools, mobile money has significantly inspired financial inclusion by providing previously unbanked and underbanked populations the…
- 15 Mar 2013
Experts Call for ‘Umbrella Banking’ to Save Mobile Money
Experts from the financial and telecom sectors have recommended what they called “umbrella banking” approach to attract some 80 per cent of Nigerians currently financially excluded. Pointing at poor…
- 26 May 2016
fets Wins Africa's Trusted Mobile Payment Technology Company Award
Funds & Electronic Transfer Solutions (fets), one of the leading licensed mobile money operators, established by The Central Bank of Nigeria (CBN) has won the 2016 Africa’s most trusted Mobile…
- 2 Jul 2013
FirstBank, Unicef Join Hands for Mobile Payment
First Bank of Nigeria Limited, through its mobile payment solution, FirstMonie, said it has gone into partnership with the United Nations Children Education Fund (UNICEF) Health Scheme in its payment…
- 19 Jan 2009
Mobile Payment: Potential and reality for Nigeria
The ability to pay for goods and services without having to carry cash or cards has universal appeal. In Africa it is being driven by the need to reduce the risk of theft. The mobile is ideal…
- 19 Mar 2021
The Rise Fund to Invest $200m in Airtel Africa’s Mobile Money Business
Airtel Africa has announced the signing of an agreement under which The Rise Fund, the global impact investing platform of leading alternative investment firm TPG, will invest $200 million in Airtel…
- 8 Jun 2009
Mobile Money: Nigerians to Cash Naira on Cell Phones
Call it a revolution. Something big has hit the banking and telecommunications world. It is mobile money, whereby mobile handset has become the primary digital channel for provision of banking and…
- 15 Jun 2026
CBN Orders Banks, Fintechs to Host Payment Data Locally
The Central Bank of Nigeria has directed banks, fintech firms, and other payment service providers to store payment transaction data generated within the country on local servers from January 1,…
- 2 Dec 2014
UBA, Airtel to Provide New Mobile Financial Services Across Africa
United Bank for Africa (UBA), one of the largest financial services companies in Africa is partnering with Bharti Airtel, a leading telecommunications services provider with operations in 20…
- 29 Jul 2024
9PSB CEO Seeks Collaboration Amongst Stakeholders in Exploring the Future of PSBs in Nigeria
9 Payment Service Bank (9PSB), Nigeria’s digital payment service bank, focused on financial inclusion has re-emphasized that Nigeria’s evolving payment ecosystems and increased collaborative…
- 12 Jul 2017
Xpress Money, TerraPay Partner for Money Transfers to Mobile Wallets in Africa
Xpress Money, one of the world’s most dependable money transfer brands has partnered with TerraPay, the world’s first mobile payments switch, to enable real-time international money transfers to…
- 30 Nov 2009
M-Payment, Money Transfer Top Phone Applications for Future
Money transfer, location-based services and mobile health monitoring are likely to be among the most widespread mobile applications within the next three years. Until recently the mobile applications…
- 14 Dec 2015
MNOs to Get Super-Agent Role in Mobile Money Ecosystem
Contrary to speculations making the rounds that Central Bank of Nigeria (CBN) is planning to license Mobile Network Operators (MNOs) to operate Mobile Money business. They will be given…