Nigeria: Partnership to Spur Local Mobile Money Growth

JAN 28,2014.


MTN Nigeria has partnered Computer Warehouse Group (CWG), the local information and communication technology group, to expand the latter's XaaS mobile money platform in the country.

A joint statement by both companies said CWG would now power the MTN mobile commerce platform, which is designed mainly for small scale financial institutions.

CWG recently launched its ultra model data center in Lagos to provide services for banks, mobile networks operators among other clients.

The MTN XaaS platform according to the statement would enable millions of bank and mobile network customers to make cashless payments and settlements through their mobile phones.

The statement also said the MTN platform would also make financial services accessible to all Nigerians in a cost effective manner.

It further noted that the MTN XaaS platform was already recording significant success in the Nigeria market and hopes that the new partnership will further enhance its penetration.

Speaking on the deal, Austin Okere, Chairman of CWG, said the partnership with MTN would jointly create a business model that would set new paradigms for mobile commerce.

He noted that the platform would also empower banks and mobile money operators to roll out innovative mobile financial services to their numerous customers via mobile telephony.

MTN XaaS platform currently provides the more than 55million MTN subscribers with the opportunity of financial inclusiveness.