Roamware Wins Nigerian Mobile Banking Contract

Mergers, Acquisitions and Financial Results

Roamware has announced that FETS (Funds & Electronic Transfer Solutions), a consortium focused on increasing mobile payment usage in Nigeria has chosen its Macalla service as their mobile financial services platform and has launched eMoni, a mobile payments service using the platform.

FETS, a non-bank service provider has recently been awarded a license by the Central Bank of Nigeria to roll out mobile payment services to the banked and vast unbanked segments (~80%) of the Nigerian population.

"About 80% of the Nigerian population is unbanked. The policy initiative of the Central Bank of Nigeria to increase mobile payment usage will accelerate Nigeria's transition to a cashless economy.", said Oluwadare Owolabi, Managing Director, FETS .