At an event earlier today, First Bank announced a strategic partnership with payment company PayPal. PayPal officially opened its doors to Nigerian users last month. The partnership allows First Bank customers create PayPal accounts right from First Bank’s online web-banking portal. In addition, First Bank customers get instant verification of their accounts as soon as they are created. How is this different from other banks? First Bank customers get instant notifications and higher transfer limits than other Nigerian banks. They can also fund their PayPal account direct from First
Read More Mobile Money service, Paga, has announced a cashback promotion for every transaction on its service. The company says users will get N100 cashback over every money transfer transaction. Paga will also give N1000 to new users to try out is service as well as N50 per transaction to users who refer their friends. The minimum amount required to get these bonuses is N500. You must transfer at least N500 to get the N100 cashback. Friends you’ve referred must also transfer above this threshold for you to get the N50 bonus.
Read More Image Source: 401K, Flickr As Lagos moves towards a cashless economy, there’s a necessity to increase awareness on multiple e-payment systems. The Card, ATM & Mobile Expo Africa 2012 hopes to create awareness on methods of cashless payments, their usefulness and most importantly how consumers and businesses can take advantage of such available systems. The Expo will include seminars and open workshops, as well as a Gala Nite scheduled for the final day. It will hold from June 12 to 14 2012 at the Civic Centre, Victoria Island, Lagos. Free
Read More CP-Africa reports that MTN has selected mobile financial services provider Fortis to launch mobile payment services in Nigeria. Fortis’ mobile payment service is currently available to MTN subscribers. MTN’s CEO Brett Goshen says “For MTN, Mobile Money represents another opportunity to bring additional added value services to our over 40 million and growing subscriber base. “The use of mobile money products will not only improve the quality of people’s lives, but will also encourage banking as opposed to storing one’s earnings in cash. “Nigeria will also benefit, as the impact
Read More Paga has announced via its Facebook page, that deposits can now be made into Paga accounts via MasterCard or Verve accounts. All the user has to do is visit the website, login and click ‘Deposit’. MasterCard and Verve popup as deposit options. You can then connect your account and enter the amount you wish to deposit. You then receive a confirmation of your deposit. Paga is one of Nigeria’s leading mobile money platforms. Paga begun rolling out its services across the country early this year. The service allows users send
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