The bank said it was looking to provide its customers with alternative banking channels.
Speaking at the official launch of the product, Managing Director of GTBank Segun Agbaje said GTBank Mobile Money was based on the company’s robust banking platform which is also making use of the advancement in the nation’s telecoms sector.
He said through the mobile money product GTBank would be able to bring its services to more Nigerians, with special emphasis on those who do not have bank accounts but possess a mobile phone.
“[GTBank Mobile Money] is counting on GTBank’s robust banking platform and advancement in the telecommunications 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,” Agbaje said.
Users with smartphones can start using the convenient, secure and affordable means of sending money by downloading the dedicated app from various app stores or directly from www.gtbank.com/mobilemoney.
The bank also revealed that it has partnered with Etisalat Nigeria, a major telecommunications company, to have the app pre-installed on the network’s SIM cards, irrespective of the make of phone.
On what distinguishes the service from others in the country, GTBank said money could be sent to individuals who do not operate bank accounts. According to the bank, with the aid of any type of mobile phone such receivers can make cardless withdrawals from ATM machines across the nation.
Apart from this unique feature, the mobile money app has been described as user-friendly and supports several functions, including phone-to-phone funds transfer, airtime purchase and bank account-to-mobile-phone-wallet funds transfer.