Nigeria’s mobile payment system, mCash relaunches

Sub-Saharan Africa’s mobile economy valued at more than $150 Billion in 2018
Youth population to drive strong subscriber growth across Sub-Saharan Africa. (image: Whiteafrican)
Nigeria's mobile payment system, mCash relaunches
NIBSS, MTN Nigeria, 16 bank and other telcos partner to relaunch mCash
(image: Whiteafrican)

The Nigeria Inter-Bank Settlement Systems together with MTN Nigeria, sixteen banks and major mobile telcos have partnered to relaunch mCash. First launched in 2016, mCASH is a mobile payment platform for making low-value retail payments designed to extend e-payment options to low-income buyers and sellers who deal in cash.

MTN Nigeria CEO, Ferdi Moolman, represented by the General Manager, Mobile Financial Services, MTN, Usoro Usoro, described the initiative as the outcome of what can be achieved when organisations work together for a common goal – to serve.

“It’s incredible how much the world has changed and continues to evolve with new ideas and technologies. Today, Africa is increasingly embracing new ways of payment for retail consumption and transactions,” he said.

“For those of us in the telecoms industry, this presented us with the question; how do we fully utilise all available options to provide standardised and efficient mobile cashless services for micro-payment and collections? The answer? Ladies and gentlemen is MCASH,” he added.

Edited by Fundisiwe Maseko
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