Nigeria’s Stanbic Bank launches mobile money platform to support international transactions

Money Transfer

Nigeria’s Stanbic IBTC Bank has introduced a new platform that allows users of its mobile money service to perform transactions on Amazon and other international sites without using credit cards.

The platform was developed in partnership with Mobile Media Info Tech Limited (MMIT).

Operated through mobile money wallet, the platform supports several international sites, including Amazon, Android Store and PlayStation.

“Customers also have the option of making cardless payments through their mobile money wallets; and with this option, any customer with a smartphone would be able to make purchases on these online sites regardless of where they reside in Nigeria,” the bank said.

Thabo Makoko, the bank’s head of e-business, said Stanbic is encouraging financial inclusion through the platform by allowing Nigerians who previously could not  shop online to do so.

“We want to provide more opportunities for the under banked in every part of Nigeria especially the small business owners; and we want to be known as the financial service partner that opens doors for our customers; empowering them to grow their businesses and lives,” Makoko said.

Jide Akindele, chief executive officer (CEO) of MMIT, said the bank’s customers would benefit greatly from the platform.

“We are excited about our partnership with Stanbic IBTC Bank. We see this as a great opportunity for Stanbic IBTC MobileMoney subscribers who will be able to make more financial decisions,” he said.