Telecommunications firm 9Mobile (formerly known as Etisalat Nigeria) and Bango a UK based firm have announced a partnership. 9pay wallet users can now pay for apps on the Google play store without having a debit card or bank account.
9Pay is an electronic wallet through which payments can be made. Consumers can sign up using their phone number and email address but do not require an ATM card or bank account. The wallet can be operated by downloading an app or through the website.
For 9Mobile, the added service increases the range of options available to users of its 9Pay wallet. Bango also gains from inroads into one of Africa’s largest mobile markets. Nigeria has over 150 million mobile subcribers, and 70% of internet access in Nigeria is through mobile devices. Android phones occupy a significant market share in Nigeria, and have Google Play installed by default.
Bango was founded in 1999 and listed on the London Stock Exchange Alternative Investment Market (AIM) of the London Stock Exchange in 2005. The company is into the development, sale and marketing of techonology that enables mobile users pay for media and content.
9mobile (formerly known as Etisalat Nigeria ) was established in 2007 and is Nigeria’s 4th largest mobile telecoms operator. The company had earlier this year defaulted on a $1.2 billion loan provided by a consortium of banks, prompting their threat to take over, and the exit of Etisalat of the UAE. Following intervention by the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC), the banks piped down and took provisions on the loan.
Source: Asoko Insight