MoneyMaster PSB, Nigeria’s leading payment services bank on Wednesday
February 8, 2023, officially introduced its market flagship offering,
G-Kala, to deepen the financial services accessibility and inclusion in
the country.
At a colourful event held at the Lagos Travel Inn, Ikeja, MoneyMaster
PSB Managing Director, Demola Elutilo, disclosed that ’G-kala’ was
conceived to address the major problem of deepening financial inclusion
in the country and also create employment opportunities for Nigerians.
The event, which had in attendance industry stakeholders, regulators,
market and trade associations, student union representatives, trade
partners, and members of the press among others, also marked the formal
launch of the Payment Service Bank (PSB). Elutilo assured that ‘G-kala’
will “bring a huge number of the unbanked populace into the financial
system of the country”. According to him, the operations of MoneyMaster
PSB would empower many Nigerians financially and bring, most especially,
people in the rural areas into the banking system by taking banking to
them.
He revealed that the innovative features of G-kala, are set to
revolutionize the Nigerian payment system while adding that it would
promote the cashless initiative of the government.
“MoneyMaster PSB will bring convenience and inclusion across all our
target segments of the population. With G-kala, your phone is your bank.
Aside from the benefits to our customers, we are onboarding a very large
number of agents for cash in and cash out, through which we are creating
new jobs in our various communities, which is also a boost to the
nation’s economy. This is the beginning of our journey to revolutionize
the financial services landscape in the country”, he said.
The Nigeria Interbank Settlement Scheme (NIBSS) lauded MoneyMaster PSB
for introducing G-kala into the Nigerian financial industry to serve the
critical mass of people who have not been given the opportunity to enjoy
banking services. Mr Samuel Oluyemi, General Manager, Business
Development, NIBSS, disclosed that NIBSS had worked with MoneyMaster PSB
from the beginning to ensure a seamless integration with the countrywide
banking system. He added that the payment service bank is a great plus
to promoting financial inclusion and widening the scope of service
providers across the country,
He revealed that the unbanked population has so much expectation for the
payment service banks such as MoneyMaster. He called on MoneyMaster PSB
to seize the initiative of fast deployment of services to address the
needs of that critical segment of the population.
MoneyMaster PSB’s ‘G-kala’, is designed to operate simpler, convenient
and more reliable channels for customers to conduct financial services.
It will provide an easy way for people to move and exchange money,
access financial information, and make bill payments.
Opening a G-kala account is very easy. All the customer needs to do is
dial *995# and then follow the prompts from a Glo line or from any other
telecommunications network as MoneyMaster PSB works on any network in
Nigeria.
The launch event also had representatives of several markets and trading
centers in Lagos including Ladipo, Mile 12, Computer Village main
markets, and student union representatives from the University of Lagos
(Unilag), Lagos State University (LASU), and Yaba College of Technology.
One of the students who was present, Doyin Fayemi, reacted to the launch
saying, “I like convenience because for me, it’s about doing something
at my own pace and when it’s comfortable. No one wants to run around
just because they want to do simple cash-in and cash-out transactions,
and pay bills. With G-kala, I can accomplish this right now on my phone.
G-kala clearly brings a lot of convenience.”
