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| | | | M-PAY AFRICA EXPO - ISSUE 06, 28 MARCH 2010 |
| M-PAYMENT: CBN PEGS MINIMUM CAPITAL REQUIREMENT AT N500 MILLION
A promoter seeking to operate a Mobile Payment system in Nigeria shall apply in writing to the Governor of Central Bank of Nigeria (CBN) and such application shall be accompanied with a minimum capital requirement of N500,000,000.00 (Five Hundred Million Naira only) made payable to the apex bank.
Fifty percent (50%) of which would be released upon the grant of Approval-in-Principle, while the balance would be released with the accrued interest on the grant of final. This
provision is meant to discourage M-Payment promoter who does not have the required capital to apply for the license.
CBN may have drawn a practical lesson for the inability of MoneyBoxAfrica to roll out services one year after it was awarded M-Payment licenses by the apex bank. It would be recalled that CBN granted the first M-Payment license to the company in January 2009. CBN employed similar provision to midwife the credit bureau service providers.
Standard Bank SPAR Launch INSTANT MONEY
A new person-to-person money transfer system announced today means South Africans can now do a lot more than just pick up a bag of groceries at their local SPAR, they can also send money to any friend or family member in South Africa who owns a cell phone.
http://www.moneyweb.co.za/mw/view/mw/en/page295023?oid=476678&sn=2009+Detail&pid=287226
Acatel-Lucent launches Mobile Wallet Service (MWS)
Alcatel-Lucent's new Mobile Wallet Service for mobile operators that would like to offer subscribers mobile commerce applications such as the following: person to person payments, remote ticketing, proximity payments and various others.
http://www.ftr-africa.com/Acatel_Lucent_launches.htm
SIMBA Telecoms Creates First Mobile Money Banking Hall in Uganda
SIMBA Telecom has created the first mobile money banking hall, in a move aimed at providing instant money transfer services in a convenient and efficient manner. The state-of-the-art mobile money transfer facility will be available to all SIMBA Telecom outlets countrywide including Kampala, Jinja, Iganga, Mbarara, Kabale, Ishaka, Mpigi and Ntungamo among other outlets.
http://mobilemoneyafrica.com/archives/1631
Mobile Payment Research, Study Tour – Ghana
Ghana is leading other countries in the West African Region with live mobile money deployments led by independent providers and Mobile Network operators, working side by side. This is quite novel in the region where most regulators are playing safe by promoting Financial Institution led Mobile Payment scheme.
http://mobilemoneyafrica.com/archives/1623
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