Consumers in Nigeria who use the eTranzact Mobile Money platform now have the option of receiving a Western Union Money Transfer transaction on their mobile phones. Consumers can receive funds from money transfer transactions initiated on the Western Union transactional websites in 23 countries or at Western Union Agent locations around the world.
eTranzact Mobile Money is a mobile payment service that has multi-network interface capabilities with third-party payment programs. Upon receipt of their funds via a Western Union Money Transfer transaction, subscribers can use PocketMoni, the eTranzact Mobile Money platform, to pay utility and cable television bills, make merchant payments, top-up their mobile phone credits and/or make third party transfers.
eTranzact was founded in September 2003. Its services include products which cut across aspects of the e-payment space such as ATM, internet, POS and mobile. The company has deployed its mobile payment services to banks and non-bank financial institutions alike and was recently granted a license by the Central Bank of Nigeria to provide Mobile Money services to individuals with a special focus on the unbanked.
In recent news, Western Union has launched new global tuition payment services with South Korean financial institution Hana Bank as well as ChinaPay, the online and mobile payments subsidiary of Chinese bank card organisation China UnionPay (CUP), and CITIC Bank in China to allow international students to pay for tuition and education fees in their own currencies.
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