Western Union has launched an outbound remittance service in Nigeria, allowing people to send not only receive money around the world. Prior to the launch, customers in Nigeria could only receive funds; this being the first time outbound remittance has become available in the country. To launch the service in Nigeria, Western Union is partnering
The Central Bank of Nigeria’s cashless policy is the key to the country’s fast economic development, according to Charles Ifedi, chief executive officer of Verve International. In an interview with HumanIPO, Ifedi said electronic payment technologies which further the cashless policy must be made available to all Nigerians for the benefits of economic development to
The Board of United Bank for Africa Plc announced the appointment of Mr. Tony O. Elumelu, C.O.N. as Chairman, succeeding Ambassador Joe Keshi. Mr. Elumelu is Chairman/CEO of Heirs Holdings, the pan-African proprietary investment company, he founded in 2010, which holds stakes in a number of leading African businesses, including Nigeria’s largest conglomerate by market
Nigerian card payment provider, Verve International, launched its in-app payments solution and made the software development kit available to app developers to support local developers eager to bring their apps to market and capitalise them, with the market currently hindered by lack of in-app payment options, according to Charles Ifedi, chief executive officer of Verve
Visa Inc., the global leader in payments, supported the launch of three locally-developed mobile apps to promote financial literacy in Nigeria. The apps were conceptualized and developed by winners of the Financial Literacy Challenge mobile development competition, sponsored by Visa, and delivered by the Co-Creation Hub Nigeria. They are designed to help Nigerians make better
The Ministry of Finance is in the process of developing a financial inclusion strategy to ultimately increase access to financial services. The Ministry will also work closely with the Bank of Ghana and the private sector to find a lasting solution to challenges of the retail payments system. Hon. Mona Helen Quartey, Deputy Minister for
Coremobile has launched Quick Airtime, an online platform for secure airtime recharge, mobile top-up and prepaid re-up in Nigeria, which it said is the fastest and simplest online recharge platform in the world. “Users can choose between Interswitch, PayPal, Google-Wallet, Verified by Visa and Etranzact. It is important for users to have options, but most
MoboFree.com, the leading African social marketplace, announced that the total volume of items currently for sale in its marketplace is worth USD 526 million and is expected to reach USD 1.5 billion by 2015. With 3.3 million registered users, including 2 million in Nigeria and a strong footprint in Zimbabwe, Uganda and Ghana, MoboFree.com is
To further deepen the use of ATM as alternative channel for banking transactions in Nigeria and in line with its Corporate Social Responsibility leaning towards enriching lives, Sterling Bank has commenced a four-week pan Nigeria ATM Activation at selected ATM locations. The locations for the four-week programme will include Lagos which is currently running, South-West
Nigeria’s government owned central bank has announced the reintroduction of charges on remote-on-us automated teller machine cash withdrawals, with every withdrawal performed on an ATM belonging to a bank differing from the cardholder’s bank to carry a NGN65 fee. The Central Bank of Nigeria announced the change via a document posted on its website, saying
