"G-kala" here to promote financial inclusion, MoneyMaster PSB pledges

"G-kala", the flagship product of leading Payment Service Bank,
MoneyMaster PSB, was on Wednesday February 8, 2023, introduced to deepen
financial inclusion in the country and serve the interest of the
under-banked and unbanked population.

The occasion was at a special stakeholder event organised by
MoneyMaster, which had in attendance regulators, market and trade
associations, student union representatives, trade partners, and members
of the press.

Managing Director of MoneyMaster PSB, Demola Elutilo, explained that
’G-kala’ was set to deepen financial inclusion as well as create
hundreds of thousands of new job opportunities for Nigerians. He assured
that ‘G-kala’ will bring a huge number of the unbanked populace into the
financial system of the country.

“The operations of MoneyMaster PSB will empower many Nigerians
financially and bring, most especially, people in the rural areas into
the banking system", he said.

He revealed that the innovative features of G-kala, are set to
revolutionize the Nigerian payment system while adding that it would
advance the cashless economy initiative being canvassed by the federal
government and bring millions of people in urban and rural areas into
the financial community.

“ 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 revealed.

The Nigeria Interbank Settlement Scheme (NIBSS) commended MoneyMaster
for taking on the challenge to address the need of the unbanked and
under-banked segment of the population. Its General Manager, Business
Development, Mr Samuel Oluyemi, who spoke at the event, disclosed that
NIBSS had worked with MoneyMaster PSB from the onset to ensure a
seamless integration with the countrywide banking system and serve
customers better. He added that the payment service bank was a great
plus to promoting financial inclusion and widening the scope of banking
services provision across the country.

He revealed that there was so much expectation from the unbanked
population across the country for the services of payment services banks
and 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.

The process has been made simple to open a G-kala 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 is
set up to work on any network in Nigeria.

The launch event also had in attendance, 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.”