The total cumulative transactions by the operators of the mobile payment in the last year are well above N64 billion, and more than 60 per cent of this amount was recorded in the last three months, the Central Bank of Nigeria (CBN) has said.
Mobile money is one of the alternative means of payment, that the banks and acquirers have deployed and implemented. Other means for e-payments include Point of Sale (PoS) terminals, Automated Teller Machine (ATM) and the web.
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Tunde Lemo, deputy governor, operations, who was represented by Dipo Fatokun, director, banking and payments system department, CBN, at a conference organized by DENovo and Reach Legal in Lagos, said the CBN has licensed about 18 mobile payment operators to offer payment services via the mobile phone. This will also help promote financial inclusion and by extension, make the nation a cashless one.
