Hello -
This service, available in Nigeria, does indeed exist. It is a
service of First Atlantic Bank. Flash Me Cash is an electronic
payment system that allows the transfer of money via a GSM phone
between two parties. Apart from the ability to flash cash,
subscribers also enjoy the convenience of loading their account with
credit through their GSM handset. To become a member of the Flash Me
Cash club, subscribers will have to complete a registration form, make
a deposit to the Flash Me Cash club account to enable you to flash
money. Easy money transfer, purchase of recharge cards from anywhere
at a discount, payment of certain bills, product purchases, etc. are
some of the benefits to be enjoyed by members of the club. (1)
Here is the Web site for First Atlantic, with signup info:
http://www.firstatlanticbank.com/flashme.html
Here is an example of an online merchant that allows you to purchase
CD's using Flash Me Cash:
MyRhythm
http://www.myrhythm.com/merchandise/cds/buy_cd_form1.htm
Read more about it here:
ELECTRONIC BANKING-Flash Me Cash records N300million monthly
http://www.sunnewsonline.com/webpages/features/cybersun/2004/april/05/cybersun-apr5-005.htm
"No less than 300 million transactions takes place monthly on the
Flash Me Cash platform, the electronic payment solutions of First
Atlantic Online Limited, a subsidiary of First Atlantic Bank plc.
Deji Oguntonade, Managing Director of First Atlantic Online Limited,
who made this disclosure said over 220,000 Nigerians use the Flash Me
Cash platform to transfer money every month. He said the beauty of
the electronic payment solutions is that a higher percentage of the
transactions on the platform is grassroots and petty money transfer."
-> click link above to read more.
'How investors can buy shares via SMS'
http://nigerianewsnow.com/News/September03/300903_sharesSMS.htm
"INVESTORS have been advised to embrace the First Atlantic Bank PIc's
Flash Me Cash as a means of sending money to their brokers for
investment in stocks.
The Managing Director of First Atlantic Online Limited, which is a
subsidiary of the bank, Mr. Deji Oguntonade, gave this advice in an
interview with our correspondent at a capital market forum sponsored
by the bank last Thursday in Lagos. Flash Me Cash is a product of the
bank that allows to send money to another person via the mobile phone.
Oguntonade said investors could send money to their brokers for the
purchase of shares at any point in time, using the product.According
to him, the product is not only secured but is also convenient." ->
click link above to read more.
ADC's Ticketing Innovation
http://www.newswatchngr.com/editorial/allaccess/business/10315105439.htm
"With e-ticket, travellers using ADC airline on the domestic route can
buy their tickets on-line and pay for the ticket with a Flash Me Cash
Card via a GSM phone. The Flash Me Cash Card is a money transfer
system by First Atlantic On-line Bank by which transactions are made
through a credit card sized document with N10,000, N5,000 and N1,000
denomination and sent via an SMS enabled mobile phone. It can be used
for payment of ADC e-tickets, instant money transfer and for
subscriptions on DSTV, club membership telephone, electricity, water
rates and birthday cards." -> click link above to read more.
First Atlantic Bank Launches FlashMe Cash
http://www.thisdayonline.com/archive/2002/07/04/20020704e-b02.html
(1) Nigerian Business Info
http://www.nigeriabusinessinfo.com/2002lagosintl-tradefair/day7news.htm
More information on GSM:
What does GSM mean in a cell phone?
http://electronics.howstuffworks.com/question537.htm
Search strategy:
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