Posted: May 24, 2014
Fortis Mobile Money, powered by mFino, is working with the Suleja local government in Nigeria to enable residents to pay for waste disposal services through mobile money. In Suleja, waste disposal is controlled by private players and residents need to make cash payments at a regular frequency to continue the service. Channeling these payments through Mobile Money cut down drastically on administrative costs, made it more convenient for customers and reduced dependency on cash.
As other players look for avenues to put mobile money to better use, Suleja’s example is a testimony to how diverse the applications of mobile money really are. “Suleja’s initiative depicts the power of mobile money and its potential to improve quality of life. The mFino platform is built to efficiently handle low value, high volume transactions, which is a defining characteristic of payments in emerging markets. Now that we have paved the way for Fortis, we are excited to roll out the platform for more partners and enable them to realize cost efficiencies while empowering their customers” said Sridhar Obilisetty, CEO, mFino.