Nigerians Now Have an Alternative Banking System

Glo and Afri-pay have signed a memorandum of understanding for the commencement of mobile money service in the country. The pact, signed over the weekend, is to enable UBA’s mobile money product, U-Mobile, to run on Globacom’s platform known as Glo-Text Cash. 

The deal will enable mobile phone users to open mobile money account to store eValue of money easily on their phones, using their mobile number as account number. They can also transfer money to any mobile number, spend the money directly from their mobile money account to pay for goods and services. 

With this new innovation, doing business in Nigeria just became easier as people can now reduce the rate at which they visit banking hall to deposit, withdraw or transfer money... Well, this is not really a new product but an improvement to what is already on ground.