NIGERIA – Remita, an Africa-focused Fintech brand, has partnered Yello Digital Financial Services (YDFS), the Fintech subsidiary of MTN Nigeria and the operator of MoMo Agent Service, to extend payment and other financial services to individuals, groups and businesses at the grassroots across Nigeria.
This, according to both companies, would further drive the financial inclusion of the unbanked and underbanked population.
With this collaboration, customers will now be able to approach any of the over 150,000 MoMo agents in Nigeria at locations closer to them to initiate and seamlessly conduct transactions.
The transactions can be such as payment of school fees, water and electricity bills, tax remittances, internet subscription renewals, money transfer, payments to state and Ministries, Departments and Agencies (MDAs) of the federal government.
“We are delighted about YDFS’ partnership with Remita, as it offers yet another opportunity to extend access to financial services to a much broader section of Nigerians, directly strengthening the financial inclusion aspirations of the Central Bank of Nigeria, which we are committed to and in tandem with our brand promise,” the Chief Executive Officer, Y’ello Digital Financial Services, Usoro Usoro, said.
“Our customers can access our services across Nigeria, as we continue working closely with the support of our principal partner bank, Access Bank, to close the financial gap among the under-served.”
In addition, MoMo agents will be able to top up their wallets on-the-go through any of Remita’s multiple payment options including the Unstructured Supplementary Service Data (USSD), internet banking, debit/credit card, Mobile Wallet as well as through branches of all commercial banks and about 400 microfinance banks.
“It is always gratifying to add value to humanity, irrespective of who it is or their location. This is one of the reasons we are excited about our partnership with Yello Digital Financial Service,” Abayomi Oniku, Divisional Head of Remita Business Development, said.
“Not only will this partnership provide more veritable means for people in various communities across Nigeria to access already existing financial services; it will also catalyse various initiatives at the community level, with benefits spanning the entire value chain and further improving the quality of lives.”
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