Moniepoint Microfinance Bank, a Nigerian subsidiary of UK-based Moniepoint, recently launched a debit card and a mobile app called Moniepoint Personal Banking. The app allows users to: (1) make bill payments, send money to friends and family, and purchase credit for mobile devices; (2) play games that offer
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MICROCAPITAL BRIEF: Universal Insurance Launches Mobile App, Referral Platform in Nigeria
Nigeria’s Universal Insurance recently launched a mobile app to facilitate its customer service interactions. The app allows users to buy and manage policies as well as to file and receive support on claims. The firm also debuted the Universal Insurance Network, through which customers can
MICROCAPITAL BRIEF: 15 Mobile Money Firms Acquire Licenses from Central Bank of Nigeria
The governor of the Central Bank of Nigeria, Godwin Emefiele, reportedly has announced that, “We have so far provided 15 licenses to several mobile money operators who are working to increase access to finance using digital channels.” This is part of an effort to open 500,000
MICROFINANCE EVENT: AITEC Banking & Mobile Money Lagos 2015, July 28 – 29, 2015, Lagos, Nigeria
Event Name: AITEC Banking & Mobile Money Lagos 2015
Event Date: July 28 – 29, 2015
Event Location: Eko Hotel, Adetokunbo Ademola Street, Victoria Island, Lagos, Nigeria
Event Theme: Financial Empowerment through Trusted Payment Solutions
Event Summary: Now entering its eighth year, AITEC (African Information Technology Exhibitions and Conferences) Banking & Mobile Money Lagos 2015 will address issues in Nigeria’s financial services sector, including developments in payment technologies, best practices in information technology project deployment, and trends in customer service delivery. Additionally, broader themes of risk management, governance, regulation and compliance will be covered.
MICROCAPITAL BRIEF: SimbaPay Mobile Money Transfer Service Opens Remittance Channel from UK to Nigeria
SimbaPay, a UK-based digital money transfer service, reportedly has announced that it has begun offering transfers to Nigeria.
MICROCAPITAL BRIEF: Etisalat, First Bank of Nigeria Merge Easywallet, Firstmonie Mobile Money
Etisalat, a United Arab Emirates-based telecommunications services provider, and First Bank of Nigeria (FBN), a commercial bank based in the Nigerian state of Lagos, recently fused FBN’s “Firstmonie Mobile Money,” a service that allows customers to access their FirstBank accounts as well as transfer funds through their mobile devices [2], and Etisalat’s “Easywallet,” a service allowing money transfers, airtime top-up, and payment for goods and services via mobile phones [3].
MICROCAPITAL BRIEF: Access Bank, Airtel Nigeria Collaborate to Launch “Access Money” Mobile Money Service
Access Bank Plc, a Nigerian commercial bank with branches in nine African countries and the UK, recently partnered with Airtel Nigeria, a subsidiary of India-based Airtel Limited, to launch a mobile money service named Access Money.
MICROCAPITAL BRIEF: Globacom Launches Glo Xchange in Nigeria to Share 42k-Agent Mobile Money Network with Customers of Ecobank, First Bank, Stanbic
Globacom, a Nigerian telecommunications company that serves 25 million mobile phone subscribers in four countries in Africa, reportedly has launched Glo Xchange, opening its network of 42,000 agents to the following mobile money operators: FirstMonie, a mobile money initiative backed by First Bank of Nigeria; Ecobank, which has operations in 29 African countries; and Stanbic, a commercial bank that operates in Nigeria and Uganda.
MICROCAPITAL BRIEF: Nigeria’s ActivEdge, SAP Africa to Launch Mobile Money Service
ActivEdge Technologies, a Nigeria-based company, and SAP Africa, the South Africa-based branch of German software provider Systemanalyse und Programmentwicklung (SAP), reportedly have partnered to offer a mobile money-transfer service to customers in Nigeria.
MICROCAPITAL BRIEF: Western Union, Paga to Augment Mobile Money Transfer Services in Nigeria
The Western Union Company, a US-based financial services company, recently partnered with Paga, a Nigeria-based mobile payment platform, to launch a mobile money transfer service in Nigeria.
MICROFINANCE EVENT: AITEC Banking & Mobile Money West Africa, July 15 – 16, 2014, Lagos, Nigeria – NEW DATES
Event Name: African Information Technology Exhibitions and Conferences (AITEC) Banking & Mobile Money West Africa 2014
Event Dates: July 15 – July 16, 2014 (Originally scheduled for March 12 – March 13, 2014)
Event Location: Eko Hotel, Lagos, Nigeria
MICROCAPITAL BRIEF: Ngozi Okonjo-Iweala (NOI) Poll Reveals Mobile Money Not Widely Adopted in Nigeria
A recent survey in Nigeria on the adoption of mobile money services, conducted by the Ngozi Okonjo-Iweala (NOI) Polls, an opinion polling and research organization based in Nigeria, concluded that sixty percent of Nigerians do not know what mobile money is or that it is offered in their country.
MICROCAPITAL BRIEF: Western Union, eTranzact Launch Mobile Money Product in Nigeria
The Western Union Company, a US-based financial services company, reportedly is partnering with eTranzact, a Nigeria-based mobile money service provider, to launch a mobile money service in Nigeria. The service is expected to allow customers on the eTranzact mobile money platform, PocketMoni, to receive mobile money transfers from 23 “sender” countries using their mobile phones.
MICROCAPITAL BRIEF: Virtual Terminal Network’s (VTN’s) VCash to Allow Mobile-phone Access to Western Union Money Transfers in Nigeria
Virtual Terminal Network (VTN), a Nigerian mobile payment company, is reportedly partnering with Western Union Company, a US-based financial services company, to allow VTN customers to deposit Western Union money transfers directly into their VTN VCash accounts for access via their mobile phones.
MICROFINANCE EVENT: AITEC Banking & Mobile Money West Africa, March 13-14, 2013, Lagos, Nigeria
Event Name: African Information & Communication Technology Exhibition & Conference (AITEC) Banking & Mobile Money West Africa 2013: Consolidating and Monetizing the Gains of Innovation
Event Date: March 13-14, 2013
Event Location: Lagos, Nigeria
MICROCAPITAL BRIEF: Rejecting Kenya’s M-Pesa Model, Central Bank of Nigeria Bars Telecommunications Companies from Becoming Licensed Mobile Money Operators
The Central Bank of Nigeria (CBN), the country’s central banking authority, reportedly has decided that telecommunications companies will not be allowed to become licensed mobile money operators for fear that they will limit competition within the industry.
MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN): Telecommunications Company May Have Violated Mobile Banking Regulations
A large telecommunications company, which has not been identified, is reportedly under investigation by the Central Bank of Nigeria (CBN) because of its work with two Nigerian banks on establishing mobile banking services.
MICROCAPITAL BRIEF: Diamond Bank of Nigeria Introduces ‘Diamond-in-Motion’ Mobile Banking Truck
Diamond Bank Public Limited Company (PLC), a commercial bank in Nigeria, recently launched “Diamond-in-Motion”, a mobile banking service truck that will allow customers to open new accounts, pay bills and use a automated teller machine (ATM) as well as make deposits and withdrawals.