Zain, Middle East and Africa mobile commerce service product, Zap, has won the inaugural Global System for Mobile Award (GSMA) 2010 â€˜Mobile Money for the Unbanked Serviceâ€™ award.
The announcement was made at the Global Mobile Awards, the industryâ€™s annual prize ceremony, at the Mobile World Congress in Barcelona.
A Statement emanating from Zain Nigeria office said theÂ Mobile Money for the Unbanked Service is a new award, established to recognize innovative mobile banking around the world that pioneers the roll
out of low_cost financial services to millions of people, in countries where traditional financial services are either not within easy reach or unavailable.
It is aligned to the GSMAâ€™s Mobile Money for the Unbanked (MMU) initiative, which was created to connect the unconnected and improve the social, economic and environmental well_being of the worldâ€™s population living on less than US$2 a day by supporting and encouraging the development of sustainable mobile money solutions.
Zap, which was launched exactly one year ago on February 16, 2009, in partnership with international and regional banks, provides an accessible package of m_commerce features currently available anywhere in the world. With more that 12 million customers already fully_enabled for the service across seven African nations, â€˜Zapâ€™ is the biggest Mobile Commerce service in the world in terms of geographical coverage, enabled customers and service functionalities.
It is currently accessible to approximately 200 million potential customers in Kenya , Malawi , Niger , Sierra Leone , Tanzania , Uganda and Ghana , where over 80% of them are â€˜unbankedâ€™, with little or no access to financial services. Zain has plans to roll_out the service in all its operations.