Glo has launched MoneyMaster, its banking payment platform to provide financial services to millions of unbanked and under-banked Nigerians.
Glo said in a statement that MoneyMaster PSB will facilitate payment and remittance services within Nigeria, accept deposits from individuals and small businesses, issue debit, and prepaid cards, operate electronic wallets, inbound remittances, and carry out other services in line with CBN regulations.
In line with the launch, Glo unveiled the first product of MoneyMaster tagged G-Kala. According to the telco, the key feature of G-Kala is that the customer’s phone number will serve as their account number.
To open a MoneyMaster PSB account, a customer is required to dial *995# and follow the prompts from a Glo line or from any other telecommunications network as MoneyMaster PSB is network agnostic.
It is noteworthy to highlight that Glo appears to be the last telco to launch its own banking payment platform. MTN (MoMo PSB), Airtel (SmartCash PSB), and 9mobile (9PSB) have already commenced their payment services.
