| MOBILE BANKING ON THE
RISE
Glo Mobile records 200,000 hits on mobile banking
daily
By SOLA FANAWOPO
Wednesday,
August 16, 2006
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Mike Adenuga
Photo:Sun publishing
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Nigerians are beginning to access banking services from their
palms with mobile phones, as Glo Mobile announced an average
of 200,000 hits on its mobile banking services daily.
Jameel Mohamed, the Chief Operating Officer (COO) of Globacom,
the second national operator (SNO), stated this at the launch
of the Blackberry wireless services in Lagos last week.
Glo Mobile offers the mobile banking in conjunction with Interswitch
Nigeria Limited, Nigeria’s premier transaction switching
company, while e-payment card association offers mobile banking
services such as account balancing, money transfer for its
subscribers.
Glo m-banking is another first of a kind of service that is
available exclusively on the glo magic plus menu. The service
provides all glo mobile subscrihers swift and easy access
to their bank accounts from their mobile phones anywhere within
glo coverage area.
With glo m-banking, convenience is the word. One does not
have to struggle to remember keywords, short codes and all
those boring technical details.
Besides, the service uses state-of-the-art SIM based technology.
Which means that the transactions between your mobile phone
and your bank(s) are secure?
For the first time in Nigeria, one single application will
provide you with a uniform interface to a multitude of banks.
This is as a result of Globacom collaboration with Interswitch
Limited
With the service, you do not need to go to your bank every
time you want to know your balance or get your statement.
You now have direct access to real time personal banking services.
Where-ever you are within the glo mobile network, your bank
is just a few clicks away.
Some of the transactions that can be conducted with Glo m-banking
include, check balance, viewing of the amount of money in
account at any time, account statement, viewing of the last
five transactions on account, recharge and buying of airtime
for any glo prepaid line using money in bank account.
Also, Glo mobile subscribers can transfer money from one account
to another within the same bank.
According to the official of the mobile company, very soon
Glo m-banking subscribers will be able to pay bills and other
utility bills using Glo m-banking service.
But how does the m-banking service work? The users of the
m-banking service select the desired transaction option and
follow the menu options till the requested response is received.
The request is forwarded in a highly secured manner to InterSwitch
which identifies the appropriate bank and queries the users
bank account according to the request made.
The service is only available to Glo mobile subscribers. And
to register, a Glo mobile subscriber must go to any of the
participating banks where he/she holds an account and request
the service.
To use the service, the subscriber must have a debit card
issued by the bank. If a debit card has not been issued to
the subscriber, the bank will automatically issue one.
It takes a maximum of one week to be activated for the services.
The service is very simple to use and the only information
required is to remember is PIN (Personal Identification Number)
or Passcode.
The service is charged on a per request basis and one is charged
for all other transactions except recharge which is free.
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