Globacom has announced the launch of its payment service bank business licensed by the Central Bank of Nigeria (CBN), MoneyMaster PSB. This payment service bank is going to help a large population that does not have access to such services.
Our over-arching business objective remains to empower Nigerians by providing them with unlimited opportunities. MoneyMaster extends that objective as it targets the unbanked and under-banked with G-Kala its flagship product in order to deepen financial inclusion in Nigeria.” MoneyMaster PSB will, along with other PSBs, facilitate payment and remittance services within Nigeria, accept deposits from individuals and small businesses, issue debit and prepaid cards, operate electronic wallets, inbound remittances and carry out other services in line with CBN regulations.
One key feature of MoneyMaster’s G-kala product is that the customer’s phone number will be used as his or her account number. We are grateful to the CBN for the opportunity to deepen financial inclusion in Nigeria using our cutting edge technology and vast network.Press Statement by Globacom