Nigeria: Etisalat Launches easywallet Mobile Payment Platform

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VENTURES AFRICA – Etisalat Nigeria has launched easywallet, a secure commerce feature with user-friendly SIM application for mobile money payments and transfers, offering partnership with leading Nigerian banks including First Bank, GT Bank, Stanbic IBTC Bank and Zenith Bank.

With its 14 million subscribers base, Etisalat Nigeria says the new product is a more convenient and secure platform which will allow subscribers’ easy access to their preferred mobile money scheme for conducting secure money transfers and payments.

The new commerce platform offers subscribers a new experience as it proffer access to multiple schemes and banks through an innate user interface. The interface is available in Nigeria basic native languages, Hausa, Igbo and Yoruba as well as English language and can be accessible on any type of mobile phone, even the most basic types.

The application allow users to pay bills and pay for goods and services, receive and send money to friends and family, withdraw cash, top up their own airtime account or for someone else and also have access to manage their bank accounts.

The mobile commerce service is developed in line with the strategy of including unbanked and under-banked customers into regulated financial services. It will help drive financial inclusion in the country while expanding Etisalat subscriber base.

“With a potential customer base of over 180 million people in Nigeria, many of whom have never had access to formal financial services; we believe that mobile commerce has important consequences for the future of banking in Africa and globally.

Earlier this year, Etisalat’s commerce platform was awarded the ‘Best Mobile Money Innovation’ for making financial services accessible to millions of people at the GSMA awards at the Mobile World Congress in Barcelona. Our service launch in Nigeria is continuation of our journey to provide the most market-relevant, transformational mobile financial services across our global markets.” Ahmad Julfar, Etisalat Group’s CEO said.

The company believes it will do more good when solutions are brought up by players to ensure wider coverage of the market.

Chief Executive Officer, Etisalat Nigeria, Mr. Steven Evans, said the new solution was positioned to bring mobile money closer to the customer and drive the Central bank of Nigeria’s cashless policy initiative by growing the use of mobile payments.

“The launch of easywallet is a landmark in Nigeria and progress towards mobile money adoption, as it is the first fully- secure mobile money SDIM application offered to customers with the easywallet application installed on their SIM cards.”

“Easywallet is compliant with all industry standards such as ISO-1 and guarantees adequate protection of customer’s information while carrying out mobile financial transactions across multiple Mobile money schemes,” he said.

Evans reinstated that the company’s strategy is to be a leader in providing its customer with cutting0-edge and secure channels for mobile money financial services.

“This involves being a major enabler and innovator in the Nigerian ecosystem and working with all key stakeholders to create a value proposition to meet the needs of the customers,” he said.