Hello, All,
Can someone please educate/elinghten me on Mobile Money Services?
[list]
[li]What is it about, really?
How does it work?
How is money sent and received by the ultimate beneficiary?
Any Government Agency(ies) involved?
If so, who are they? and ,
What role(s) do these Agencies play - Participatory, Aupervising, Regulatory, etc?
How can it be beneficial to people?
More importantly, how does it provide opportunities for you and me?[/li]
[li][/li]
[/list]As at now, do we have Companies through whihc one canparticipate/benefit?

Thanks.

The CBN is the regulator. The banks are facilitators while some telcom/ict companies are technology partners.

In a country of over 150m, less than 20m have bank accounts while over 80m have mobile phones.

Having studied its success in Kenya, the CBN believes it can increase the number of banked people, as well as minimise dependence on cash through mobile payment.

Basically, you approach a local/nearby agent to load funds on your phone. They charge a commission for this. Once you have funds in your mobile 'wallet', you can transfer the money to others or settle bills by sms, gprs, web, ussd (like u do when loading airtime) or nsdt (near sound data transfer).

Some of the players include gtbank/mtn yellobank, zenith/visafone, uba, monitise nigeria, parkway projects, etranzact, amongst others.

The business opportunities can be likened to running a bdx or recharge card dealership.

The economic benefits include banking the unbanked, less qeues in banking halls, etc.

More info:
www.google.com/m?q=mobile+moey+nigeria

The Industry will boom and the Return on Investment will be Huge. Telecoms are taking Position MTN, Glo, Etisalat. Bank FirstBank, GTB, Zenith, Ecobank, StanbicIBTC, UBA, Fidelity Bank, Independent Operation, PAGA, Monitise, Eartholeum, PayCom, e-Transact Pocket Moni, FETS, M-Kudi, Fortis. Nairami Nigeria engages in Strategy Development and Mobile Money Consultancy. Search Nairami on FaceboOk to Connect with Nairami Nigeria.

for more information on mobile money, send me an email topex4real2003@yahoo.com or call 08079394438