Monitise, the mobile money networks and
technology group, has been granted a provisional licence by the
Central Bank of Nigeria to introduce a mobile payments service in
the country.

The first phase of the Monitise service is slated to launch in
2011 directly to consumers. In parallel the service will also be
offered on a white label basis to the country’s banks and financial
service providers.

Monitise said that customers will be able

– Add money to their mobile wallet or make
withdrawals at a countrywide network of processing agents;

– Make person to person (P2P) payments via
their handset;

– Check their balance by SMS alert, and

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

– Future services will include savings,
insurance and pensions.

Prateek Shrivastava, managing director of
Monitise Africa, said: “Of Nigeria’s 149 million strong population,
19 million have bank accounts, but 75 million have mobile phones –
which amply illustrates the potential of mobile payments services
across the country.”