Smartpay, Others Set to Introduce Mobile Online Payment Technology

Vanguard (Lagos)
By Babajide Komolafe
February 11, 2002 
Posted to the web February 11, 2002 

A NEW technology that would enable mobile phone users add fund to their phone through their bank account, without leaving their home or office would soon be introduced into the country.

The introduction of the technology was the outcome of a working agreement reached between Smartpay Nigeria Limited and a group of four information technology firms from South Africa (S.A). The group consists of MOTCOM, a major S.A. infotech company and shareholder in S.A s newest GSM operator; Mobile Online Payment System (MOPS) a leader in the mobile online payments providing payment services to GSM subscribers in S.A.
Others include Magnom Simplex Company a technology leader in S.A and Australia; and CIGICELL, S.A. largest EFT/Switching company.It was gathered that the group in partnership with Smartpay entered into joint venture to introduce technological solutions aimed at boosting GSM telephony in Nigeria.

Vanguard was reliably informed that the group would be introducing a new transaction switching terminals and a new card that will enable anyone with a mobile phone and a bank account to add fund to their phone without leaving their home or office. Also their card would enable GSM phone users to load their phone through ATMs (Automatic Teller Machines).The terminals to be introduce would also support cheque acceptance, enabling individuals to use their cheques in a secure manner at Merchant outlet across the country hence promoting the use of cheques.

A top official of the group confirmed to Vanguard that plans are underway to make the card acceptable across the West African economic zone. According to the official, the joint venture will begin operations by the end of February 2002 adding that a significant amount of their technology has already been deployed.

The partnership with Smartpay which also extends to Smartpay member banks involve the use Smartpay point of sale terminals and ATMs for the deployment of the groups technology.The expected technology, it was gathered apart from eliminating the encumbrances usually suffered by GSM phone users in their attempt to add funds to their phone would also facilitate an effective integration of the country s growing telecommunication industry with the financial industry.