August 22, 2013

eTranzact partners MoneyGram on money transfer


As part of its support for the cashless initiative by the Central Bank of Nigeria, CBN, eTranzact International Plc, a quoted company on the Nigerian Stock Exchange (NSE) has signed an agreement with MoneyGram on money transfer via mobile phone.

Speaking during the signing ceremony, the Managing Director/ CEO –eTranzact International Plc, Mr. Valentine Obi, who was represented by Mrs. Eme Godwin, Head of Legal Department of the company, said, “ Today marks a turning point in the way we receive funds from our associates and loved ones abroad. Gone are the days when we needed to travel long distances and go through long queues to receive money sent to us by our relatives. We now have a solution that makes it possible for us to receive our money as soon as it is sent, even outside the banking hours- at night, on weekends and on public holidays.”

He noted that the money transfer via mobile phone will add exceptional convenience to how people receive money at no additional cost. “We have reduced extra cost you bear travelling far to receive your money and we have made it possible to receive your money at any time of the day, including weekends, evenings and nights “ he added.

Obi explained that for any person to enjoy the service, the person must register as PocketMoni subscriber with eTranzact, stressing that the process of registration is easy and that no person is required to carry any identity validation documents about to receive money.

The Business Development Manager, Money Gram , Kemi Okusanya, in her remark said, ‘’It is the realisation that mobile phone has come to stay and will become more powerful and integrated in our lives that prodded the move for us to come out with this mode of money transfer .

“As we all know, remittances are a key aspect of our financial sector and economy. Indeed, some estimates from the World Bank indicate that we get more in remittances from friends and family than donor aids. That transfer from an aunt in London, a brother in Garbon , an aunt in the US, a friend in France is what keeps us going.”

To this extent, she encouraged Nigerians to be part of the PocketMoni in order to enjoy the MoneyGram money transfer, noting that eTransact is a household name in terms of mobile money services.