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Firms enhance central bank cashless policy

08 January 2014, 10:02Henry Ifeanyi

Lagos - BeyondBranches, the mobile money firm, has introduced a new innovation that will enable banks customers to pay money into their bank accounts through Quickteller agents across the country.

The innovation is made possible through the firm’s integration into Interswitch platform.

Using this approach, BeyondBranches hopes to bring the bank within easy reach of those who need to deposit cash quickly and securely.

Speaking on the development, Simon Aderinlola, Chief Operating Officer of BeyondBranches in Nigeria, said the innovation would offer convenience to customers.

“We are excited to make life easier for bank's customers. The cost of transportation, the time wasted due to the traffic in Nigeria's towns and cities and the queues within bank branches have made life difficult for the people of the country. Instead, customers of any bank can now go to a Quickteller agent and deposit funds into any bank account in Nigeria,” he said.

Gregory Ubigen, Chief Executive officer of BeyondBranches International said, “The cash-deposit at an agent is an exciting new service that helps drive transactions to agents. By continually adding new services quickly, we can help drive branchless banking and digital inclusion in Nigeria. We hope to continue to support the Central Bank of Nigeria's (CBN’s) policies on financial inclusion.”

Titilola Shogaolu, Chief Payment and Value Added Services officer of Interswitch Nigeria said development would further enhance the CBN cashless policy drive.

“Interswitch explores different opportunities to provide solutions that support the Cashless society drive of the CBN while also delivering a financially included Nigerian population. As such, BeyondBranches have integrated their platform and growing agent network into our platform to build a secure and highly scalable agency banking infrastructure in Nigeria, enabling Banks and other key players in the industry bring financial services closer to their customers in a secure manner. We are excited about the potential services that can be enabled with this infrastructure,” she said.

– CAJ News


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