VENTURES AFRICA – International money transfer company, MoneyGram, has finalised agreements with electronic transaction and payment platform, eTranzact’s PocketMoni, that will allow accessibility to Nigerian mobile users all over the world.

PocketMoni – which works on all GSM networks the partnership – would enable customers carry out their transactions with ease, without having to face the often “touted inconvenience” of funds transfer.

The companies said the deal which would allow 24/7 access to money transfer transactions is a step in building a comprehensive suite of mobile services.

The Regional Director for North West Africa MoneyGram International, Mr Francois Peyret noted that the partnership was another effort aimed at driving the cashless policy directive of the Central Bank of Nigeria (CBN).

“With about 100 million mobile lines for a population of 150 million, Nigerians will benefit from this and when they totally embrace the cashless initiative”, Mr Peyret.

eTranzact had earlier also partnered with Western Union in a bid to further enhance the cashless policy.

The CBN policy which has generated mixed reactions in the West African state, with some quarters of the opinion that, though the policy might be good for the economy, its operations could be hampered by fundamental problems the country is grappling with.

A Lagos-based analyst Dayo Babatunde said there are infrastructural challenges which might impede the efficiency of the policy.

“Nigeria is not ready, some measures have to be put in place first before making it a phenomenon to be embraced by all and sundry”, he said.

Regardless of this, the policy continues to record growing acceptance as over 200 mobile money transactions worth N8 million ($49, 000) occur daily.

Transaction among mobile money outfits commenced in March this year after the expiration of the February 28 deadline of the CBN.

This new deal is expected to further propel the CBN directive.

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