G-kala unveiled to revolutionize the Nigerian payment system says Moneymaster PSB

Moneymaster PSB on Wednesday unveiled its flagship product offering,
’G-kala’, with the main objective of revolutionizing the Nigerian
payment system through advancement of the cashless economy initiative of
the federal government and integration of millions of people in urban
and rural areas into the financial community.

The launch event at Lagos Travel Inn was attended by stakeholders
including regulators, market and trade associations, student union
representatives, trade partners, and members of the press.

Speaking at the event, Managing Director, MoneyMaster PSB, Demola
Elutilo stated that ‘G-kala’ will bring a huge number of the unbanked
populace into the financial system of the country, adding that the
operations of MoneyMaster PSB would empower many Nigerians financially
and bring, most especially, people in the rural areas into the banking
system.

Elutilo added that, “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 revolutionise the financial services landscape in the
country.”

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.

‘G-kala’, is designed to provide an easy way for people to move money,
access financial information, and make bill payments. To open an
account, all the customer needs to do is dial *995#, then follow the
prompts from a Glo line or from any other telecommunications network as
MoneyMaster PSB can work with any network in the country.

Among the guests at event were student union representatives from
University of Lagos (Unilag), Lagos State University (LASU), and Yaba
College of Technology, as well as representatives of several markets and
trading centers in Lagos including Ladipo, Mile 12, Computer Village
main markets.