A subsidiary of the telecom company Globacom, MoneyMaster has launched its new mobile payments and banking services platform called G-Kala.
G-Kala is a platform and mobile app providing mobile wallets, bank accounts, mobile payments, and other solutions for individuals and businesses.
MoneyMaster through its new feature G-Kala, that will also allow for the digital transfer of electronic money from person to person, person to business, and business to person. This will be carried out by an agent network which serves as the primary interface for deposits and withdrawals.
MoneyMaster’s Drive on G-Kala
With this new feature, MoneyMaster aims to drive financial inclusion in the rural and urban areas by recruiting 100,000 agents to reach Nigerians who are out of the financial system.
Through this, customers can also open an account by dialing *995# from any telecom network.
Read Also: Digital to Finally Take Over Financial Space in Nigeria
What does MoneyMaster Have to Say
A statement released by the company speaking on the key feature of G-Kala reads:
“One key feature of MoneyMaster’s G-Kala product is that the customer’s phone number will be used as his or her account number.
Our overarching business objective remains to empower Nigerians by providing them with unlimited opportunities. MoneyMaster extends that objectives as it targets the unbanked and under-banked with its flagship product G-Kala in order to deepen financial inclusion in Nigeria”.
About MoneyMaster
The company was established in 2019. It received a payment service bank license from the Central Bank of Nigeria (CBN) in August 2020. It however started operation in May 2022.
It tech giant is the third company to be granted a payment service bank license from CBN. They include Unified Payment Services’ Hope PSB and 9mobile’s 9 PSB.
Read Also: Financial Inclusion In Nigeria: 9PSB and Flutterwave Team Up.
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