Desmond Mgboh, Kano
MTN Nigeria at the weekend, launched the Yellow Digital Financial Service (YDFS) known as Mobile Money transfer with approval by the Central Bank of Nigeria (CBN) at Dambatta Local Government Area of Kano
Speaking on the initiative, the Senior Manager of MTN in Kano, Kumar Abubakar, explained that the system eases the demands of their customers who seek to send money to their friends and relatives in any part of the country.
According to him, MTN is targeting the capture of 50,000 out of its four million subscribers into the new package before the end of this year.
He stated that, “People want to send money to their friends or relatives but they find it difficult to do cash transaction. What they do is that they purchase credit cards and send it to them to sell to agents and get the money. Based on this, the Yellow Digital Financial Services, a subsidiary of MTN, came up with a new product which was licensed by the Central Bank of Nigeria to do cash transaction.
“It is such that if you have a brother in Lagos or Port Harcourt or anywhere in Nigeria, you can send cash to him through our MoMo agent and then he can go to a MoMo agent nearest to him and collect cash without any charges. This is why we are here to sell this idea to the people in Danbatta.”
He maintained that the network’s vast outreach, with about 63 million subscribers in Nigeria and over four million in Kano will provide reliable financial transactions base that will ease the public need.
“If you look at other competitors we have in Nigeria, you will see that they have restrictions. They have a lot of plans in Nigeria but they don’t have coverage. So what we leverage on is our customer base such that everywhere you go you will find an agent close to you and effect your transaction.
“What we are planning is to cover beyond NEC’s polling unit per community in order to have a wide reach out for transaction,” he added