Fets Emerges Africa’s Most Trusted Mobile Payment Company


Funds and Electronic Transfer Solutions (Fets), one of the leading licensed mobile money operators, established by the Central Bank of Nigeria (CBN) has won the 2016 Africa’s most trusted Mobile Payment Technology Company. The award was announced at the African Brand Leadership Merit Awards ceremony, which took place in Ikeja, Lagos, recently.
The Institute of Brand Management of Nigerian (IBMN) in collaboration with the African Institute of Brand Management (Afribm) held this year’s edition of African Brand Leadership Merit Awards. The African Prize for Leadership is a prize for excellent leadership experience for selected organisations that have made an impact in the development of the African economy through their innovation, creativity and leadership.

Fets’ mobile money was launched in 2011 to enhance the lives of customers by providing convenient, reliable and affordable payment solutions to the unbanked population in Nigeria as well as offering bespoke services to corporates.
Fets’ mobile money product, fetswallet, enables the transfer of money from one point to another (person, business, government) using electronic value of money on basic mobile phones. The company offers a range of services, which include cash in and cash out at agent location, transfer across locations, micro health insurance, salary disbursements, international remittances, micro finance, disbursement and insurance products. Over the years, Fets has acquired a growing portfolio of corporate clients from several sectors in the country inclusive of Fast Moving Consumer Goods (FCMG), Health and government parastatals.

Fets operates through an agent network and currently has an extensive mobile money agent network.  The brand’s network exists in 33 states covering all local government areas. Fets’ agent location provides total brand experience to the customers and also deploys bespoke agent solutions to cater for the needs of their corporate customers.
In addition, Fets infrastructure is secure and their information security policies are in line with world standards.  The Fets platform is extremely efficient and has a high availability ratio, running multiple transaction types with robust offerings and industry leading security features. The platform user interface is easy to use and will be convenient for customers to use.
Commenting on the award, Managing Director, Fets, Omotade Odunowo said: “We are deeply honoured to have received this award and it further reaffirms the impact we have made in the Nigerian economy and society. Currently, 59 million adult Nigerians and 70 per cent of rural Nigeria have no banking or formal financial institution presence, thus creating a huge physical barrier and high cost in accessing money and financial services.  We provide mobile money, banking and formal financial institution presence, thus creating proximity, low cost and affordable access to money and financial services.  Corporate mobile payments also present the opportunity to eliminate inefficiencies whilst making substantial cost savings.  We will continue to do all we can to maintain our excellent customer satisfaction rate.”

Last year, Fets also received the Best Mobile Payment Technology company from the Institute for Government Research and Leadership Technology as well as an award for best mobile utilities payment provider in 2016 from the Mobile Money Africa.