GSM Enables Cashless Nigeria
2005-11-18 17:54:59 | Viewed 6510 times
The determination of some e-payment companies to create a cashless society in Nigeria by enabling electronic payments across different platforms, is now paying off with the deployment of GSM services to many parts of the country. The most prominent e-payment companies in Nigeria are Interswitch Nigeria Limited, Smartpay, Valucard and eTransact.
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Before the deep penetration of telecommunications services in Nigeria, the companies had been handicapped by lack of infrastructure in remote parts of Nigeria. Thus, they could not deploy their online services beyond urban cities given the need for bandwidth to transmit their transactions. But last week, Mitchel Elegbe, Managing Director of Interswitch said that e-payment companies have been able to overcome this problem because of the preponderance of GSM services around the country today. He said that since most GSM companies now offer GPRS services, it was now easy for electronic transactions to be done anywhere. |
Given this scenario, Interswitch last week launched a bold campaign to discourage Nigerians from carrying cash around and avoid the risks involved. Called Operation Cashless, the campaign is expected to take the company to all parts of the country. Elegbe says Operation Cashless is aimed at creating awareness about the availability of channels such as POS terminals, ATMs Internet, Mobile, where electronic transfers can be performed as well as promote the use of the Nigerian debit card. The campaign is also to educate Nigerians about the use of the Nigerian debit card and how life and mode of payment can be made efficient and better with the use of the card.
Rest the rest @ Vanguard Nigeria's website.
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