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Globacom partners UBA and Stanbic IBTC on cashless economy

By Esther Onyegbula
In support of the cashless economy initiative of the Central Bank of Nigeria (CBN),  telecommunication giant, Globacom Nigeria  has launched the first mobile money service known as Glo Txtcash. This service will enable mobile subscribers use their mobile numbers to store electronic  Value (E-Value) of money easily.

With this services, subscribers can transfer money to any mobile number, spend the money directly from their mobile money account to pay for goods as well as buy airtime top-up for themselves this was made known recently to pressmen in Lagos to adequately acquaint the press and the general public with the dynamics of the cashless economy operations.

Speaking at the launch Mr Adewale Sangowawa, Globacom Executive director, Human resources noted that “Glo Txtcash will ensure that people will no longer carry a wallet and a mobile phone at the same time, anymore. Your mobile phone  now becomes your wallet, underscoring the convenience and safety of the service”.

This partnership with UBA (Afripay) and IBTC, is readily available even in the most remote part of the country with the wide network of Globacom across the country, in line with the CBN’s objective of enhancing financial inclusion through a secure, convenient and reliable mobile account.

“The objective of the partnership with UBA and IBTC is to join hands with the foremost banks for their mobile initiatives, to cater to subscribes across Glo mobile network with the widest geographical coverage in the  whole of Nigeria. This initiative shall bring facilitates similar to banking to the unbanked population through their mobile phones and would redefine their ways of life” Mr. Sangowawa added.

According to the Director Tele-banking Ayotunde Kuponiyi, he described the development as a landmark in Customer care and convenience. With the combined Stanbic IBTC and UBA outlets, pan Nigeria coupled with the wide reach of  the Glo network, banking has invariably been brought to the hands of Nigerians.

This service can be accessed by all Glo subscribers after registration and dialing *866#  for U-Mo and *909# for Stanbic IBTC mobile money. Existing GLO subscribers and new ones can perform various operations including deposit?cash – in: withdrawal ?cash out; transfer from mobile to mobile; buy airtime credit for self or for others and utility bill payments. Other facilitates are Account maintenance, balance enquiries, last transactions and mini statement. It will also enable customers to request for PIN change.

No doubt this innovative service is designed to encourage savings culture among Nigerians and it requires fewer information to register for the services on mobile phones  and it does not exclude any customer regardless of the type of phone.


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