Etisalat rolls out novel services in Togo
Abu Dhabi, August 31, 2013
UAE's leading telecom services operator Etisalat has launched a mobile phone-based commerce service through its subsidiary Etisalat Moov that will give much of Togo’s population access to banking for the very first time.
Togo’s first mobile commerce service, known as Flous, which means “money” in several languages, enables customers to use their mobile phones as digital wallets, said a statement from Etisalat.
With Flous, customers can pay for bills, goods and services; transfer money with friends and family; withdraw and deposit cash; top-up mobile phones and manage bank accounts. The service is offered in partnership with Banque Atlantique, it added.
“This launch represents the latest chapter in our work to push the boundaries of mobile communications by bringing banking to the unbanked in many of our global markets,” said Khalifa Al Shamsi, the chief digital services officer at Etisalat Group.
“For any market in the world, the combination of services we are providing would be exciting; when set in the African context, the implications are especially profound," he noted.
“Expansion of our mobile commerce service to Togo is continuation of our journey to provide market-relevant, transformational mobile financial services across our global markets,” he added.
Djibril Outtara, the managing director of Etisalat Moov in Togo, said: “Research has shown that mobile commerce services can help lower the cost of money transfer, increase the flow of money by making it easier to send small amounts and give those without bank accounts secure financial management.”
“By providing market-relevant services, we are delivering lasting benefits not just to our customers, but also to the economy of Togo itself,” he added.
After signing up, Etisalat and the Banque Atlantique will provide customers with virtual bank accounts, enabling them to use their mobile phones as debit cards and manage funds directly from their handsets, said the statement.
The service, which requires a password for each transaction, is designed to give customers security and flexibility, enabling customers to access money 24 hours a day, seven days a week. Service is accessible on any handset from the most basic to the most sophisticated mobile device, it added.
Guy Martial Awona, the CEO of Banque Atlantique Togo, said it was excited to partner with Etisalat Moov on this ground-breaking initiative.
"Mobile commerce has the potential to transform banking in Africa and will help overcome many of the challenges to providing banking services to remote and rural communities. Even in the cities, it will replace notes and coins for many everyday transactions," he added.
Etisalat currently serves 143 million customers in 15 countries throughout the Middle East, Africa and Asia; Flous is already operating in the majority of the operations.-TradeArabia News Service
More IT & Telecommunications Stories
- Nawras quadruples 3G+ mobile services
- Menatelecom expands bill paying network
- Du joins new global cable consortium
- Kuwait moves to create telecoms watchdog
- Batelco backs Royal Fund for Martyrs
- Egypt's Global Telecom posts $749m Q4 loss
- Red Hat launches open source BPM suite
- Batelco announces new board
- Batelco offers improved broadband
- You don't own phone numbers, warns TRA
- Tech giants back top Qatar ICT event
- Du to provide wifi access in public areas
- Zain finalises $800m, five-year loan facility
- Ooredoo Q4 net profit falls 36pc to $140m
- Mobily, Etisalat team up for LTE roaming
- Batelco approves $84m dividends for 2013
- Etisalat Q4 profit rises 70pc to $394m
- Kenya telecom firm to join Etisalat SmartHub
- Aruba appoints new sales director
- Du enters $1.17 billion financing deals
- VIVA extends 4G LTE offer
- Batelco to update students with latest technologies
- Etisalat SmartHub seals IPX agreement
- Etisalat picks Alcatel for LTE network expansion
- Boeing, QCRI host machine learning forum
- Mobily provides 4G LTE international roaming
- Viva Kuwait, Huawei to set up innovation centre
- Etisalat, Airtel deal to boost network services
- Batelco offers 4G LTE backup solution
- Arbor unveils ‘Peakflow’ solution