Pages

Mobile Money



         Mobile Money is an easy, fast, secure and affordable way to send and receive money with the use of mobile phones. With mobile money service all phone users can transfer funds to any recipient in Nigeria and also make payment for goods and services with their phones.
This mode of payment has been made popular in some east African countries particularly Kenya since year 2007.

You don't need to have a bank account to use this service, your mobile number serves as a wallet which you can load with money for use to pay for goods and services.

With mobile money you can do the following;
  • send money to other mobile money users
  • receive money from other mobile money users
  • make purchases and pay with mobile money by sending money through your phone to a mobile money merchant in exchange for goods and service
  • Cash in: funding or deposits into your mobile money account
  • Cash out: withdrawals from mobile money account through an Agent
  • Funds Transfers to any recipient (both mobile money subscribers and non-subscribers) *** non-subscribers collect cash from an ATM with just a PIN.
  • Purchase of Airtime ( for self and for others)
  • Balance Enquiries
  • Payment of Utility bills etc    

  • You can also link your mobile money account with your bank account in order to fund your 'wallet' that is mobile money account from your bank account or transfer money to the bank from your mobile money account.  
     
          Organizations licensed to carry out mobile money service are telecommunication companies and banks which have their Agents all over the place to attend to your mobile money needs such as such as registration, deposits (cash-in) and withdrawals (cash-out).
    ***The process of withdrawal is such that you transfer value from your mobile money account to an agents account and the agent gives you cash. UDM56RWPVSAZ 


    How to subscribe to mobile money
        To start using mobile money service all you need is your mobile phone to register for the service by simply dialing a short code from the phone or downloading the application if you want to use the web-lite version (for gprs enabled phones) or you can walk into any of the banks that currently offer this service or meet their Agents
    Mobile money uses the short codes USSD that is on your SIM card available on most new SIM cards and you will always receive an SMS notifying you of the status of your transaction. The old SIM card that you have been using for some years now might not be able to use this service. 
          You can subscribe to mobile money services from the following banks in Nigeria by dialing the codes listed below or clicking on the link to download the web-lite version.

     
           Stanbic IBTC Bank *909#
           FirstBank    *894#
           Ecobank     *326#
           UBA             Umobile
           GTBank       GTBank Mobile money
           FCMB          FCMB Mobile
           Zenith Bank Zenith Bank eazymoney


     Presently I use Stanbic IBTC Bank mobile money service without having an account with the bank and the experience has been very wonderful.

    The short codes can be used on any network a bank has partnered with and also some banks are yet to launch their own mobile money service.

          You can share this piece on facebook, twitter, google+ or email by using the icons below.
     

    Follow by Email

    Share