The Central Bank of Nigeria (CBN) has said its cashless policy will not eliminate the use of cash for payments in Nigeria. Sarah Alade, acting governor of the bank, said at a cashless policy sensitisation exercise held in Ilorin, Kwara state, the cashless policy would only reduce the volume of cash transactions in Nigeria. Alade
Nigeria’s Kuluya Games has introduced an SMS in-app payment option allowing players to buy items via SMS. Lakunle Ogungbamila, chief executive officer (CEO) of Kuluya Games, told HumanIPO the integration is operator-driven. “Basically it’s operator-driven, meaning game players can buy items with SMS. The way we have integrated it is that once a player decides
The Western Union Company, a leader in global payment services, has announced the launch of a new mobile money transfer service to Nigeria, which increases the reach of Western Union payout options in the country. The new service to Nigeria integrates directly with Paga, the leading mobile payment platform in Nigeria, with more than 1.2
The Central Bank of Nigeria (CBN) has announced new guidelines that will subject banks using third party electronic payment solutions not been licensed by the central bank NGN10 million (US$60,000). The new guidelines on spell out the roles and responsibilities of all stakeholders in the end-to-end electronic payment of salaries, pensions, suppliers and taxes. “When
Ecobank shareholders meeting at an Extraordinary General Meeting today passed the Governance Action Plan proposed by the Board of Directors in compliance with the recommendations of the Securities & Exchange Commission (SEC) of Nigeria and contained in a joint report by SEC and the international firm, KPMG. The implementation of the detailed 51 point plan
Teasy Mobile has appointed VeriFone Mobile Money, a joint venture between VeriFone and Mobilis Networks Limited, to widen mobile money services in Nigeria. Under the agreement, VeriFone will deploy its retail enablement solution integrating mobile wallet, banking and telecommunication provider networks with point-of-sales (POS) to drive mobile money. Teasy will partner with stakeholders in Nigeria
The number of mobile money subscribers of Nigerian commercial bank Stanbic IBTC will soon reach one million, says Gbenga Agboola, the bank’s mobile platform product manager. Agboola said the bank’s mobile money service is unique in that it does not require users to open an account, as the user’s phone number serves as the account
iKaaz, a Bangalore based mobile payments provider has entered the rapidly growing African market with the launch of its innovative tap and pay offering in Nigeria. Very soon Nigerian consumers will be making NFC payments at select merchant outlets thanks to iKaaz’s NFC powered mobile payments platform running on the cloud. “It is encouraging to
Holders of UBA payment cards like Visa, MasterCard and Verve are being given an opportunity to get significant discounts on their card payments as UBA enters into a partnership deal with Parolz.com, an online platform which offers exclusive discounts and benefits from top outlets in Nigeria. The offers range from Dinning to Lifestyle,Hospitality, Transportation and
The Central Bank of Nigeria’s high value payment system has gone live on SWIFT. The move to SWIFT is a key element of the Central Bank of Nigeria’s Payment System Vision 2020 (PSV2020), which calls for a “Nationally Utilised and Internationally Recognised” payments system and provides a robust platform to support Nigeria’s continued economic growth.
