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Stanbic, MMIT partner for new mobile money service

24 October 2013, 12:39

Lagos - Local mobile money customers can now shop internationally online without the use of credit cards thanks to a platform launched by Stanbic IBTC Bank, one of the country’s leading financial institutions.

The platform, which will be operated through the mobile money wallet, has been launched in partnership with Mobile Media Info Tech Limited (MMIT).

In a statement, the bank explained that customers who operated Stanbic IBTC Bank’s *909# mobile money wallets would be able to shop on foreign online sites such as Amazon, Android store, Playstation and other gaming sites.

The bank said customers would also be given the option of making cardless payments through their mobile money wallets. With this option, any customer with a smartphone would be able to make purchases on these online sites regardless of where they resided in Nigeria.

The Head of E-Business at Stanbic IBTC Bank, Thabo Makoko, described the partnership as another step towards financial inclusion for those that were not able to shop online as they did not have credit cards.

“We want to provide more opportunities for the under banked in every part of Nigeria especially the small business owners; and we want to be known as the financial service partner that opens doors for our customers, empowering them to grow their businesses and lives,” he said.

Commenting on the collaboration, Chief Executive officer of MMIT, Jide Akindele, said, “We are excited about our partnership with Stanbic IBTC Bank. We see this as a great opportunity for Stanbic IBTC Mobile Money subscribers who will be able to make more financial decisions.”

– CAJ News


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