ChamsMobile launches Mobile Money for Nigerians abroad
Nigerian Mobile Money Operator, ChamsMobile Ltd, under its brand ‘Kegow’, has announced the introduction of a Mobile money account for Nigerians living abroad in socalled “diaspora”, an account which will include a linked Visa Virtual Card as a standard feature.
Gavin Young, DMD, ChamsMobile explains: “If we consider that there are an estimated 5–15 million Nigerians in diaspora and over $21 billion being remitted to Nigeria annually via money transfers, there is a big need for a product which provides those in diaspora with a wide range of payment services, in addition to simply remitting money”
“Our Kegow product enables Nigerians in diaspora to maintain and operate a full financial services Mobile Money account without having to maintain a formal bank account in Nigeria. Many Nigerians abroad, rather than just remitting money to friends and relatives would rather have more control of how the money is spent locally, such as for buying goods online and having them delivered, paying bills for themselves or on behalf of others, sending airtime, paying into bank accounts, and so much more. That’s essentially what our product provides; flexibility, convenience, and choice.”
“Let me use a practical example: A Nigerian residing in say, London, currently sends money to his/her mother monthly so that she can buy certain essential provisions or pay certain bills. With the Kegow Mobile Money Visa Virtual card, the sender abroad would simply open a Kegow Mobile Money account and receive a Visa Virtual card online, and without leaving London, find provisions for sale on one of the many eCommerce sites in Nigeria, then pay with his/her Kegow Virtual Visa card, securely, in Naira, and have the goods delivered to their mother in Nigeria. What could be easier? This would save a lot of time and money for both parties”
“Many Nigerians abroad also want the assurance and comfort that remitted funds are being used for their intended purposes; such as paying essential household bills, purchasing goods and services, and purchasing airtime. Our product provides that control and flexibility, as the cardholder has full control over how the money is spent. Of course, simply sending funds to another bank account instantly and at minimal cost, is also a basic feature of Kegow.“
Customers get the Kegow mobile wallet and Visa Virtual card by logging on to www.kegow.com, signing up with their foreign mobile number as the account number, and providing the required KYC information. Once completed, an account will be activated and a Visa Virtual Card issued online. It’s that simple. Once cardholders have loaded Naira from the options provided, they can start transacting.
Funds-loading options include remitting via our international remittance partner Small World LLC www.smallworld.com or via any Chip and PIN enabled Visa and MasterCard international card. Alternatively, if the cardholder has a Naira bank account, funds could also be moved from there.
In the first phase towards a worldwide rollout, the new card will initially be made available to the diaspora with UK and South African mobile numbers.