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MoneyGram Partners PocketMoni to Pilot remittances via Mobile in Nigeria

By Eric Eghaghe
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Global money transfer giant, MoneyGram International, has concluded arrangement to deploy its clout and network in assisting Nigerians embrace the current cashless policy directive of the Central Bank of Nigeria (CBN) without having to face the often touted inconveniences, pains and frustrations of fund transfer under the new directive. To this end, MoneyGram has launched a new partnership with Etranzact, one of the leading alternate payment solutions companies in Nigeria, to enable PocketMoni Customers in Nigeria receive MoneyGram Money transfers from all over the world onto their PocketMoni mobile-wallet directly at their convenience, any time of the day, all round the year.

PocketMoni is a leading independent mobile wallet solution offered by Etranzact, with more than 3,000 agent locations across the country providing cash-in, cash-out service to customer's wallet from which customers can then transfer funds directly into their bank account in Nigeria as well as pay bills.

Speaking on the new offering, Regional Director for North West Africa, MoneyGram International, Francois Peyret, noted that the new partnership with Etranzact is in line with MoneyGram's corporate responsibility strategy aimed at deepening financial inclusion by aggressively developing alternate Channels of seamless, convenient, safe and reliable cash transfer in its countries of operation.

“With about one hundred million mobile lines for a population of 150million, Nigeria enjoys positive penetration of mobile technology. MoneyGram's concern is how to help Nigerians derive more value by deploying this huge mobile technology penetration to achieve financial transaction that promotes convenience and unlimited accessibility”, he said.

Also speaking on this service, Executive Director, eTranzact International Plc, Sullivan Akala, said “eTranzact is at the forefront in ensuring that the CBN cashless policy drive is a huge success. And eTranzact has built an e-payment service platform that meets the need of every Nigerian by providing a secure, convenient and cost effective way to send and receive payment using their mobile phone”.

He further stated that “In the past, there had been cases of MoneyGram customers having a challenge because they could not receive their remittances for hospital emergencies at night or over the weekend due to traditional challenges with brick and mortar. However, this partnership with Etranzact therefore means MoneyGram customers can now enjoy the benefits of unlimited access to their remittances via PocketMoni, because under this new arrangement, customers that register for this service at any Pocket Moni merchant location countrywide from 1st August, 2013 can access their transfers at any time over their phones”.