Moneymaster PSB on Wednesday unveiled its flagship product offering, ’G-kala’, with the main objective of revolutionizing the Nigerian payment system through advancement of the cashless economy initiative of the federal government and integration of millions of people in urban and rural areas into the financial community.
The launch event at Lagos Travel Inn was attended by stakeholders including regulators, market and trade associations, student union representatives, trade partners, and members of the press.
MoneyMaster PSB unveils G-Kala
Speaking at the event, Managing Director, MoneyMaster PSB, Demola Elutilo stated that ‘G-kala’ will bring a huge number of the unbanked populace into the financial system of the country, adding that the operations of MoneyMaster PSB would empower many Nigerians financially and bring, most especially, people in the rural areas into the banking system.
Elutilo added that, “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 revolutionise the financial services landscape in the country.”
The Nigeria Interbank Settlement Scheme (NIBSS) lauded MoneyMaster PSB for introducing G-kala into the Nigerian financial industry to serve the critical mass of people who have not been given the opportunity to enjoy banking services. 
Mr Samuel Oluyemi, General Manager, Business Development, NIBSS, disclosed that NIBSS had worked with MoneyMaster PSB from the beginning to ensure a seamless integration with the countrywide banking system. He added that the payment service bank is a great plus to promoting financial inclusion and widening the scope of service providers across the country,
He revealed that the unbanked population has so much expectation for the payment service banks such as MoneyMaster. He called on MoneyMaster PSB to seize the initiative of fast deployment of services to address the needs of that critical segment of the population.
‘G-kala’, is designed to provide an easy way for people to move money, access financial information, and make bill payments.
To open an 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 can work with any network in the country.
Among the guests at event were student union representatives from University of Lagos (Unilag), Lagos State University (LASU), and Yaba College of Technology, as well as representatives of several markets and trading centers in Lagos including Ladipo, Mile 12, Computer Village main markets.
