Thursday, July 24, 2008

Is Nigeria the new Hotbed for Mobile Banking?

Everyone seems to be getting involved in Nigeria with the best solution for mobile banking in this unique country. Some weeks ago paybox announced their Moneybox initiative in collaboration with local entrepreneurs. A recent announcement from UK company Broca (having won a deal to deploy their SMS platform in Nigeria) also highlighted how their solution would be ideal for Nigeria.

Anyone familiar with Nigeria would be aware that some exellent solutions ar ein production and have been developed in the country itself. Some of these have been in production for some years now. In working in this country, the relationships between different mobile operators and banks should be considered. As well as switching companies and the Central Bank. The environment is extremely complex.

Fundamo have been involved in the market since 2005 and have worked on a number of initiatives. The country is an ideal environment for the deployment of mobile payment solutions, but many problems require solutions - the least of these being innovative technology.

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