Nigeria: Firstbank teams up with Etisalat for mobile money payments

Monday 5 January 2015 14:21 CET | News

Financial institution First Bank of Nigeria (FirstBank) and UAE-based telecommunications service provider Etisalat Nigeria have partnered for mobile money payments.

The partnership which involves FirstBanks Firstmonie Mobile Money and Etisalat easywallet, a SIM application solution, is expected to impact the uptake of mobile money in Nigeria.

Among the channels available on the mobile money platforms are: unstructured supplementary service data (USSD), SIM tool kit (STK), mobile app, web, the STK channel. The STK is a SIM-based application with a menu found in every SIM card.

This has informed the decision for the partnership involving Firstmonie and Etisalat easywallet. The aim of the partnership is to promote the use of Firstmonie mobile money on the easywallet STK menu. By doing so, there will be value added to all stakeholders in the mobile money segment including customers, agents and merchants.

With the easywallet, Etisalat subscribers can make financial transactions such as peer-to-peer transfers, bills payment and airtime top-up, directly from their mobile device.

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Keywords: Nigeria, FirstBank, Etisalat, mobile, money, payments , Firstmonie, easywallet, SIM, STK, mobile app, peer-to-peer, transfers, bills payment, airtime, top-up
Categories: Payments & Commerce
Countries: World
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