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Democratisation of money

Ibrahim Apekhade Yusuf

Monday, May 7, 2012 - 09:08

The use of mobile technology such as phones and other electronic channels like point of sales terminals, internet, etc, for money transfer and other transactions have revolutionised the financial service sector in Nigeria.

THREE years ago, it would have been practically impossible to believe that you can get easy access to money anytime, anywhere without necessarily visiting the conventional banks out there. But all that has changed now, thanks to the advent of electronic payment channels offering mobile money transfer. In fact, with this kind of innovative payments, it is absolutely right to say we are beginning to witness democracy of money!”

The above short anecdote is a testimony by  Balogun Adebowale, an upwardly mobile executive who is simply bowled over by what he describes as the fast-pace services of these firms offering mobile money transfer services in the country today. Adebowale is not alone.

Jokojeje Akinpelumi, a real estate consultant, agrees that many people out there have also caught the bug. !



Read the full story by clicking the link below ml
Tags: Mobile Money Transfer, Mobile Payments, EMEA, Nigeria, POS, Airtel

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