Telecommunications service provider Etisalat Group has announced the launch of a mobile commerce package in Nigeria
This is the first time that customers will be able to access multiple mobile commerce service schemes and banks through the user interface installed directly on consumer SIM cards.
The user interface will be accessible in English, Hausa, Igbo and Yoruba languages from all types of phones, from low-end basic phones to the most sophisticated devices.
Etisalat has used ISO-1 compliant security features in the service for ensuring that customer transactions cannot be intercepted or manipulated in anyway.
The mobile commerce application has been designed to function like a mobile wallet that offers a range of mobile banking and transaction services.
The service has been developed in-line with Etisalat’s strategy of including un-banked and under-banked customers into the regulated financial service spaces, enhancement of financial transparency and expansion of financial transaction channels.
Etisalat Group chief executive officer Ahmad Julfar said, “This represents the latest chapter in our work to develop innovative mobile solutions for our global customer base. For any market in the world, the combination of services we are providing would be exciting. When set in an African context, the implications are especially profound.
He added, “With a potential customer base of over 180mn people in Nigeria, many of whom have never had access to formal financial services, we believe that mobile commerce has important consequences for the future of banking in Africa.”
Etisalat Nigeria chief executive officer Stephen Evans said, “Research has shown that m-banking and m-payments can help lower the transaction costs and increase the flow of money transfers.
He added, “By enabling people to use their mobile phones as mobile wallets, we hope to deliver lasting benefits not just for our customers, but also for the economies of the countries in which we operate.”
