Mobile payments hit N64b, new body partners CBN on scheme’s promotion

STAKEHOLDERS in the nation’s financial sector have formed a body to help government and telecommunications operators develop industry standards and modalities for the advancement of mobile financial services in the country.

The move was sequel to the plan by Central Bank f Nigeria (CBN) to engage small and medium firms as consultants for its mobile payment project.

Speaking at the lunching of the Association of Licensed Mobile Payment Operators (ALMPO) in Lagos, the CBN Director of Banking and Payments Systems, Dipo  Fatokun, represented by the Head of Monitoring and Assessment Office of the Apex bank, Shola Agboola  said the acceptance  of mobile payments  by the Nigerian public  had  grown  to  over N64 billion  in transactions  reported by  the licensed companies  in less than two years  of operation, of which half of those transactions happened  between January and April this year.

Source: The Guardian

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