Monitise goes to Nigeria with mobile payments

UK mobile money operator Monitise has obtained a provisional license from the Central Bank of Nigeria to implement mobile payment services across the country.

Using its Globe platform Monitise will be offering financial services over the mobile phone to the unbanked, including savings, insurance and pensions. The service will also see the first deployment of the Monitise Mobile Wallet solution.

The implementation of the project will be partially subsidized by the Africa Enterprise Challenge Fund which has assigned $1.5 million to the project.

The first phase of the Monitise service will be launched in 2011 directly to consumers. In parallel the service will also be offered on a white label basis to the country's banks and financial service providers.