If one can fund account via recharge card. They will have more edge over bank and pos operator.

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

Econet was the first telco in Nigeria. Get your facts right

Kingpele:
Hmmmmm I love it when I see foreigners coming here to do business and grow it to enviable positions, while indigenous people of Nigeria especially the youths are busy cursing their country and an idler.praying to japa to another man's country..impatience, laziness, pride and greed is the problem with many Nigerian youths, u see Togo youths, Ghana youths, benin Republic youths taking over our humble but noble jobs from Abuja to lagos ,while some youths will rather stay at a betting shop till dusk..if M TN didn't see what the japa crew are not seeing, they won't have to expand their business here but would have diminished their investment here

So what's your point? People have dreams, people need to japa because it's part of their dreams too. Besides not everyone born here wants to die here Oga. You be tree wey no dey move around?

MTN are too smart.

With this move just watch as they wil become the number one fintech in Nigeria.

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

That's not true, MTN network connection is stronger than other Network.When you buy data or credit for calls, it last longer than any other network. I would say their service is more stable than any network that's why they have more customers.
CTL cable services came before DSTV but DSTV is the Giant because of the services they provide which is better than any other cable service providers.

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

Econet came before MTN sir
That's why Econet was given 0802 and mtn 0803

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company,

No, you're wrong. MTN wasn't the first telecommunication network in Nigeria. And that's not what made it successful.

no reasonable Nigerian will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

The use of the word "reasonable" is out of point. Secondly, I prefer PALMPAY to any Nigerian conventional bank at the moment, Palmpay service delivery is out of this world! So, if Palmpay could beat Nigerian banks in terms of fast service delivery (transactions), what stops MTN from doing the same or better?

Me I have something against the name of the bank, sounds like mumu bank. MTN BANK OF NIGERIA SHOULD BE IT'S NAME.

KillerCrocodile:
At least we can still get positive news coming out of Nigeria...

Good development...



The charges per transaction will be regulated by CBN to ensure that it is reasonable.

And your money in your mobile wallet will attract interest every quarter.

That is what they are doing in Ghana...

at what %?

WiszyFraud:
Did you know??



Once people realize they can’t manipulate you, they start to dislike you. .

Actually, when people realize they can't manipulate you, they start "manipulating" how other people see you.

They are doing this because the momo business in Ghana will soon collapse due to the E-levy that's been introduce into the system by Ghana GOVERNMENT most people are already withdrawing their money from Momo (mobile money) because of the extra charges.

It will also affect banking systems in Nigeria the way it hurt Ghana banking business is very easy and convenient pos will be affected too it creates more jobs.

KillerCrocodile:
At least we can still get positive news coming out of Nigeria...

Good development...



The charges per transaction will be regulated by CBN to ensure that it is reasonable.

And your money in your mobile wallet will attract interest every quarter.

That is what they are doing in Ghana...

It makes payments very easy and convenient

Something that has been in Ghana and Cotonou and even Ceroun for many years

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

Econet , now Airtel, was the 1st telecom company in Nigeria, not MTN .

Good

politicoNG:
The approval gives the firm the leave to operate virtually all the services offered by conventional commercial banks except granting credit and processing foreign exchange transactions.




https://www.premiumtimesng.com/news/headlines/523144-breaking-mtn-nigeria-diversifies-into-banking-gets-final-approval-for-momo-bank.html

momo bank ko,mama bank ni.

Expect same issues they give to their customers on their network.

maasoap:


No, you're wrong. MTN wasn't the first telecommunication network in Nigeria. And that's not what made it successful.



The use of the word "reasonable" is out of point. Secondly, I prefer PALMPAY to any Nigerian conventional bank at the moment, Palmpay service delivery is out of this world! So, if Palmpay could beat Nigerian banks in terms of fast service delivery (transactions), what stops MTN from doing the same or better?

You can say that again! I use Palmpay too and they are the best Fintech for me even though they don't have ATM Cards like other Fintechs which is their only flaw, their transactions just work and they have good network and little to no network downtimes! Also, they give me peace of mind too! Nothing like Freezing my account like Kuda does or having unstable network almost all the time like Opay.

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

I bet you a a teenager........MTN is not actually the first Telco in Nigeria.......they are the biggest doest not translate to being the first, this misinformation nullifies every other meaningless points you try making to smear them.

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

It will likely be a "convenience" service similar to something like PayPal.

In plenty other African countries instead of POS stands, as they have "mobile money" tied to their phone numbers.

It's super convenient and many people will use it to send money and also pay for goods and services.

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

Econet came before MTN. In Nigeria, MTN is not the first.

Rip off season 2

Oyiboman69:
at what %?

The interest percentage is unknown for now

but it May not be less than what banks are giving to customers... Especially if MTN Nigeria Mobile money starts giving out soft loans like they do in Ghana and elsewhere...

CBN would work out the interest percentage payable to MOMO customers because it would be wrong for MTN to hold your money in their system and not pay you interest...

I just hope our CBN have done their homework before they issued this license to Telco Operators to start mobile money in Nigeria..

I expect Glo Nigeria to get their license soon because they are already doing mobile money transactions in Ghana.

Get your self positioned for wealth.

Visit my signature

Kingpele:
Hmmmmm I love it when I see foreigners coming here to do business and grow it to enviable positions, while indigenous people of Nigeria especially the youths are busy cursing their country and an idler.praying to japa to another man's country..impatience, laziness, pride and greed is the problem with many Nigerian youths, u see Togo youths, Ghana youths, benin Republic youths taking over our humble but noble jobs from Abuja to lagos ,while some youths will rather stay at a betting shop till dusk..if M TN didn't see what the japa crew are not seeing, they won't have to expand their business here but would have diminished their investment here

You are simply playing the ostrich. Nigeria has serious problems! Not all youths are leaving. Millions of youths are here creating startups everyday. They fail they start again; they fail they start again. Nigerian youths are amongst the most hardworking in the world. Not everybody is lazy.

Do you know that there are thousands of startups by Nigerians that have succeded and are doing well?

There is no difference between what you said and what Buhari said. Buhari said Nigerian youths are lazy and you just said the same thing, generalising the whole populace. What sort of education do people get and they cannot make proper statements?

Apart from MTN don't you know many companies folded in Nigeria? Do you know what insecurity, epileptic power supply, poor roads, corruption and ethnic irridentism have cost Nigeria? Or you live in Utopia and see through your own rose-tinted glasses?

Do you know people travel put of the country because they have a right to? Do you know people naturalise in other countries because they simply want to? There are several reasons people leave a country.

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

They were not the first telecommunications company in Nigeria. Nitel was. And Econet was the first GSM network in Nigeria. MTN was the second

FalseProphet1:
MTN Bank hmmm...

I see them becoming worse than access bank, I see them debiting customers for checking their account balance, I see them debiting customers for checking their MTN call balance, I see them debiting customers for accessing the internet.

I see them debiting those who borrowed money with their MTN lines and threw the lines away thinking they're smart, and those owing them various amount of credit. I see them debiting customers for making international calls and sending international text messages.

I see customers complaining bitterly, I see them leaving the bank.

This I have seen.

then you must be suffering from glaucoma.

You actually said my mind.

They should have created a new line of business if what propelled their decision is value and not greed.
Why reinvent the will or make the already saturated and regulated financial sector more problematic. Why not bring new business to Nigeria.

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

econet was the first network in Nigeria not MTN

nero2face:
MTN succeeded in Nigeria bcuz they were the first telecommunication company, no reasonable Nigeria will prefer to bank with their so called bank when we have world class banks around us (and I don't see them giving any special kind of banking aside what we're having already)...not with all the wahala they're giving us with their network

Am no trumpeting for anyone, I don't get shishi from any. ..but MTN rocks at my end Dan every other telecoms put together. Internet services, top-notch!

nero2face:
Imagine baking with Mtn while ur registered phone number is Glo...ah swear, at the end of the month ur alert charges alone will shock ur village people

I think this is one of the reasons they want to venture into banking,y dey don't want to be paying for all those charges