PocketMoni, the mobile payments arm of the Nigerian payment processing company eTranzact, officially launched their new mobile money app yesterday, at the Lagos-based co-working space, CcHub.

TechCabal was there to witness the event.

PocketMoni is a mobile payment solution designed to allow users conduct financial transactions anytime, anywhere, from their phones. It enables users make utility payments, purchase airtime, transfer money to friends and family anywhere in Nigeria, make cardless cash withdrawals and few other financial services.

These are some of the features of the new PocketMoni application highlighted by the company at the event:

Cash-out at ATMs (without a card)
The cardless cash withdrawals is only redeemable at FCMB terminals and can be used by both account and non-account holders of the bank. To send money, users (who have downloaded the app) simply need to enter the phone of number of the recipient, after which two security codes are generated. These are the codes that the beneficiary will use at any FCMB ATM machine to terminate the money;  plans are in the pipeline to cast the netwider to include other banks.


Western Union Money Transfer (WUMT)
There also an option to receive transfers from Western Union on the app. Users don’t need to have an account with any bank before redeeming their transfer via this application. The only requirements are the information sent from the initiator.

Pay List
The new PocketMoni also comes with a functionality that allows you to pre-set (or instruct, if you will) it to initiate payments for goods and services (DSTV bill or staff salary) and it has a reminder before such transaction is initiated.


There’s are also other functions such as standing orders and salary direct deposit.

The application is available for download on the Google Play Store and Blackberry World. The company said those who download the new PocketMoni app and fund their mobile money account get a 500 hundred naira airtime top up on the line used to register.

Olumuyiwa Coker Author

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