I must admit I did a double take when I read the introduction here at the mention of Nigeria.  Between terrorism, revolutions, and spamming Nigeria doesn’t have the greatest reputation.  However when I read the rest, there is an impressive array of services in this new partnership.

NIGERIAN TRIBUNE – Info Systems

In addition, non-cash payments will also be available from POS terminals at these locations. Several UBA products, notably Moneygram, would also be available at all MTN Service Centres and MTN Connect Stores. UBA, which is the sole super agent of Money Gram in Nigeria, holds more than 80 per cent market share of Moneygram business, and has the widest banking branch network in Nigeria today.

In a joint statement, the companies announced the introduction of an electronic wallet, known as X-Change. This revolutionary vending solution will integrate airtime vending services, with the functionalities of Automated Teller Machines (ATM), which are one-stop-shop banking facilities, in close proximity to the public.

In fact items such as electronic wallets, and non-cash payments are probably a good thing from a security and self protection perspective.

Relevance to Bankwatch:
Never underestimate any country and their initiatives for best practices in banking.

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