Fintech 2.0 Innovation Showcase: Making Payments Using Just your Mobile Number

Posted by E.L.E.X on February 15 2019 under Tech/Cybersecurity

CIO, Softcom, Tomi Amao, says they wanted to create a financial solution that captured a much larger audience using a tool that is available to almost 100 million Nigerians – a mobile phone number. And so they created Eyowo, a platform that allows you exchange monetary value with just a mobile phone number.

Since it launched in August 2018, Eyowo has processed over 2 million transactions worth a little over N15 billion, for its over 2 million account holders.

Some other use cases of the Eyowo platform has been in the implementation of the federal government’s Tradermoni scheme. The micro loans made available by the FG to petty traders were disbursed simply using the traders’ mobile phone numbers. 600,000 traders have received loans so far using the platform. Repayment of the loans will also be made through the platform.

Watch Tomi’s full presentation at the Fintech 2.0 TC Townhall:

Watch Video

YOU MAY ALSO LIKE

[MUST SEE] If These Apps Are Installed On Your Phone, You Can ‘Easily’ Be Hacked

4 Important Lessons Young Entrepreneurs Can Learn From OPay Business Shutdown

Fake News Control! Whatsapp Places New Limits On Message Forwarding

WHAT IF ELON MUSK’S $420 DREAM HADN’T GONE UP IN SMOKE?

Difference Between Coder and Programmer

Comments

Add Comment

All fields are required!