GTBank Mobile Money and Mobile Banking Nigeria

GTBank Mobile Money is powered by MTN. With Mobile money, all MTN subscribers can transfer funds to any recipient in Nigeria and also pay for goods and services with their mobile phones.


Link to external site : Website for GTBank Mobile Money and Mobile Banking Nigeria
GTBank Mobile Money and Mobile Banking Nigeria
Brand
Launched in
Status
Launch
Importance
Traction
Evaluation

This service earlier supported MTN in a special way, mentioning the operator for services such as purchase of airtime. This changed and as of April 2013 more operators are mentioned.

Cardless withdrawal at ATMs is an innovation that could help this service become popular, as well as lower the cost of provision.

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Account Type
Branchless Banking Account
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Business Model
Receiving money transfers is free.
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Class
Send Services Receive

Mobile


Web


Account


ACH


Card


Wallet

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AT

BB

BP

DMT

MB

MM

OB

OP
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Account


ACH


Card


Wallet


Mobile


Web

Model
cross-industry based
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Who Leads?
Reach
Active Users
Registered Users
Potential Mobile Market (m)
Regulations
Persona
Purpose
Active Services
Card Type
ServicesDescription
Channels
Payment Instruments
Cash I/O Description
Money can be deposited in cash or from another bank through NIPS transfer or Quickteller portal. Additionally POS terminals can be used with FUND WALLET, and deposits can be made through GTBank ATMs using a bank card.
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Cash I/O No Of Locations
Handsets

Any phone can be used, as long as it has SMS, USSD or GPRS services. Non-phone users can also receive money transferred by MobileMoney customers.

The account is accessible from a downloadable application on most smart-phones or Java enabled handsets.

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Technologies
Smartphone app or SIM menu.
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Interoperability
Mandated to be interoperable
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RegistrationProcess

Customers self-register or visit GTBank branches or appointed agents to register. Tiered KYC is supported as follows:

(a) Unbanked: transactions are limited to N3,000 per transaction and N 30,000 per day, but self-registration is possible, supplying name, phone number and date of birth

(b) Semi-banked: Accounts can be upgraded to this status by visiting a bank branch and providing valid ID, in addition to the details earlier provided. Daily transaction limit is lifted to N10,000 per transaction and N150,000 per day.

(c) Fully banked: Daily transactions can be made to a limit of N 100,000 per transaction and N150,000 per day. This requires proof of address and a GTBank account.

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Main Segment Mobile
Segment Description A bank account is not required to make use of this service. However bank accounts may be linked to the Mobile Money account.

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