Guaranty Trust Bank (GTBank) has established its mobile money product as a preferred option for discerning users of alternative banking channels in the country. In a statement, the bank said its mobile money service has succeeded because of its penetration strategy and partnership with major telecoms companies.
“The GTBank Mobile Money service is a convenient, secure and affordable way of sending money using a mobile phone. The service can be accessed by users of smart phones through the various app stores or by downloading the Mobile Money application which has been installed on the SIM card of all Etisalat subscribers irrespective of phone type,” it said.
It said the product allows subscribers to send cash to recipients that do not have bank accounts, who then make withdrawals from any GTBank Automated Teller Machines (ATMs) nationwide. However, the recipient needs mobile phone to experience the service.
The Managing Director of GTBank, Mr Segun Agbaje, said: “Counting on GTBank’s robust banking platform and advancement in the telecoms industry, the mobile money initiative has gone a step further in bringing banking services closer to the population – especially the unbanked who are more likely to have a mobile phone than a bank account.”