Globacom launched a payment service bank business called “MoneyMaster PSB” as well as a new auto-credit service called “Glo Auto Credit” at an event held at Eko Hotels & Suite in Victoria Island over the weekend.
In a statement shortly after the launch in Lagos, the telecom company said: “Our over-arching business objective remains to empower Nigerians by providing them with unlimited opportunities. MoneyMaster extends that objective as it targets the unbanked and under-banked with G-Kala its flagship product to deepen financial inclusion in Nigeria.”
Money Master, according to Globacom, will leverage its pan-Nigerian reach and pervasive agent footprint in rural and urban areas as it begins its massive roll-out. To open an account, simply dial *995# from a Glo line or any other telecommunications network, as MoneyMaster PSB is network agnostic.
The Central Bank of Nigeria (CBN) granted MoneyMaster PSB a payment service bank license on August 27, 2020; however, the PSB began commercial operations on May 30, 2022.
Globacom, the leading digital and telecommunications service provider, also added Auto Credit to Glo’s E-top service. This service aims to provide customers who run out of credit in the middle of a conversation with a smooth transition and connection.
Glo Auto Credit can be accessed via bank applications and it offers automatic credit for customers to make calls and use data. Subscribers of the service will be auto-credited when their airtime balance gets to a minimum threshold limit at their desired frequency (daily/weekly/monthly).
MoneyMaster, according to Globacom, will be leveraging on its pan-Nigerian spread and pervasive agents’ footprint in the rural and urban areas as it begins its massive roll-out. To open an account, all the customer needs to do is dial *995# and then follow the prompts from a Glo line or any other telecommunications network as MoneyMaster PSB is network agnostic.