Commercial banks in Nigeria are currently moving away from conventional cash-based operation to a more digital-driven banking operations.
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Petrol service stations, now serving as banks
Commercial banks in Nigeria are currently moving away from conventional cash-based operations to a more digital-driven banking operations.
Total Filling Station
In April 2017, Ecobank Bank shut down 75 of its branches in Nigeria in order to enhance customers adoption and familiarity, with its e-banking platforms.
Also, a full-fledged technology driven commercial bank, SunTrust Bank was established last year and the bank reports a profitability results in one year of its operations.
The activation of the product was conducted in Total Solar Service Station, Onigbagbo, Ikeja Lagos on April 13, 2017, while the formal launch of the pilot phase of this service in 50 stations across the Nigeria has started.
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Now, GTB and Total Nigeria Plc have announced a partnership deal which will enable GT account holders withdraw cash, from selected Total service stations in Nigeria.
According to information on the Total Nigeria Plc’s website, the product uses the USSD (Unstructured Supplementary Service Data) platform which to pay out cash to customers.
This service will be most useful on especially during extended holidays when most ATMs have dried up.
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