A private bank in Somalia launched the first mobile wallet service in the East African nation in a colorful ceremony held in Mogadishu.
Premier Bank launched the service on January 16, 2021.
The bank launched a service that it described as not only fast but also simple and secure.
Through this service, the bank’s customers are now able to load cash onto their mobile devices, which then allows them to pay their utility bills conveniently.
Furthermore, this new service allows users to recharge, shop, and perform several transactions online.
Khalif Omar, Somalia’s Minister of Trade and Commerce, attended the service’s launching on Saturday.
The minister commended Premier Bank for launching a service at the right time.
“Premier Bank has launched Premier Wallet Services just when COVID-19 pandemic has hit the country hard,” the minister said.
“Customers would now be able to access their accounts and perform online transactions from the comfort and safety of their homes,” Omar said.
Maryam Moalim, the Deputy Governor of the Central Bank of Somalia, also hailed Premier Bank for launching such a revolutionary product and service.
She said, “Premier Bank continues to set the standard for all banks and financial institutions in the country.”