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News
Update
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Fidelity Partners
with Money Managers in local funds transfer
scheme |
In
its
effort
to
make
local
funds
transfer
faster
and
easier,
Fidelity
Bank
Plc
has
entered
into
partnership
with
an
indigenous
company,
Torrecilian
Trust
Limited,
to
deploy
the
opportunities
in
e-business
in
instant
cash
transfer.
Known
as
Money
Manager
Instant
Cash
Transfer
Scheme,
the
product
is
an
e-commerce
funds
transfer
mechanism
where
funds
can
be
transferred
within
seconds
via
the
internet,
and
is
operated
through
the
Money
Manager
software.
Unlike
most
other
money
transfer
schemes,
this
e-commerce
product
is
operated
through
scratch
cards.
Generated
Pin
codes
are
made
available
in
the
form
of
Scratch
Cards
tied
to
specified
amounts
in
Naira
and
hosted
on
the
Web.
The
scratch
cards
are
in
ranges
of
N2,
350,
N5,
350,
N10,
500,
N20,
500,
N25,
600
and
N50,
800
with
commission
inclusive.
These
Cards
carry
Pin
and
Pay
numbers,
which
a
customer
sends
to
the
Receiver
(the
Beneficiary)
via
SMS
or a
phone
call.
The
Receiver
then
goes
to
any
Branch
of
Fidelity
Bank
or
any
of
the
other
designated
Banks
to
collect
the
funds.
The
instant
funds
transfer
scheme,
Mr.
Reginald
Ihejiahi,
Managing
Director
&
CEO
of
Fidelity
Bank
Plc,
explained,
is
designed
to
be
simple,
user-friendly,
readily
available
and
convenient.
According
to
Ihejiahi,
the
local
money
transfer
scheme
“also
underscores
the
Bank’s
responsiveness
to
global
financial
trends
where
e-products
are
fully
deployed
to
meet
customer
needs”.
In
other
to
make
the
e-product
easily
available
to
as
many
Nigerians
as
would
want
to
send
money
to
their
loved
ones,
the
instant
money
transfer
scratch
cards
would
be
sold
in
shops,
eateries
and
through
vendors
on
the
streets.
Apart
from
Fidelity
Bank,
other
financial
institutions
involved
in
the
scheme
include
Access
Bank
and
Oceanic
Bank.
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