Glo TxtCash: Glo Mobile Money Review - NaGSM

Posted by Felix Okoli on Tuesday March 20, 2012 8:55:17:

What is Glo Mobile money really about? Well it has to do with being able to send and receive money across the Glo network. Glo Nigeria calls this service Glo TxtCash and it allows you to move money by means of text. Mobile Money is mostly about being able to move money with a mobile device and it seems this would reduce queues at banks or ATMs.

Here is what Glo has to say about the service called on its website @ http://www.gloworld.com/latestnews4.asp:

Globacom has partnered with two major licensed banks to launch Nigeria’s first mobile money service. Glo Txtcash, the new addition to the long list of firsts by the company enables mobile subscribers use their mobile numbers to store Electronic Value (E- Value) of money easily. With this service, subscribers can transfer money to any mobile number, spend the money directly from their mobile money account to pay for goods as well as buy airtime top-up for themselves and others!

Sometime ago, we learnt that the Nigerian govt has started issuing licenses for mobile money operations in Nigeria through the CBN. It now seems that the investors are already set to start doing business with it.

Glo Nigeria is one of the top GSM companies in Nigeria and already has a lot of subcribers on its network.

How does Glo Mobile Money really work?
- You dial the ussd code
- Select a transaction
- Confirm it
- The beneficiary gets credited with funds from you
- Withdrawals can also be made on an ATM machine using without using a physical card

What can you use GloGlo TxtCash for?
- Top up airtime
- Send money to another person within Nigeria
- Request for Money
- Pay bills
- Pay for services and products in the real world and even on the internet

Participating banks
Of course when it comes to money business, Glo would need to work with some banks and they include:
UBA by means of U-mo accounts
IBTC by means of MobileMoney accounts

To send money, you would need to go to a bank but to receive and withdraw money, you don't really need to go to a bank. You can just withdraw money from an ATM.

What you need to start using Glo TxtCash
- A registered Glo line
- Funding: Using your UBA's U-Mo or Stanbic IBTC's Mobile Money(MM) account
- The dial codes: (*866# for U-Mo and *909# for MM)
- 4 Digit Pin
- Receiver's mobile number

So you don't really need to open a bank account but you may only visit the bank when you want to fund you account. So once you want to pay someone or send money, you can do it from your mobile phone.

Learn How U-Mo works: http://www.u-mo.net/howUmoWorks.html

Learn How StanbicIbtc Mobile Money works: http://www.standardbank.co.za/standimg/campaigns/WR_1632/index.html

Comments:

Re: Glo TxtCash: Glo Mobile Money Review Posted by Johnfavour eke on Monday January 28, 2013 at 14:12:21:

Like me i bank with UBA PLC,I have an account with them,i want to get started with the u.mo account right away.What do you really mean by funding my account? Thanks for co operation.

Re: Glo TxtCash: Glo Mobile Money Review Posted by Felix Okoli on Monday January 28, 2013 at 14:12:21:

If you already have a savings account, you don't really need it to do Glo mobile money. Just go to the UBA bank and tell them you want to fund your mobile money account. It is a different account from their normal accounts. I think it may be your Glo mobile number.

Shop online in Nigeria