Liberia: LBDI Opens Services for Lonestar Cell Mobile Money Subscribers
MONROVIA – Customers of the Liberia Bank for Development and Investment (LBDI), who are mobile money subscribers of Lonestar Cell MTN, will no longer have to worry about walking long distances just to collect their pay checks. These customers, especially those in the hinterlands, their preferred bank – LBDI – has now launched its mobile money project in partnership with the GSM service provider.
On Friday, November 2, the bank joined five other business entities to tap into the Lonestar mobile money program.
The partnership will enable the GSM company’s mobile money subscribers and agents across Liberia to perform mobile money transactions such as cash in and out, do bill payment and all other mobile money services at all LBDI banks across Liberia.
According to Mr. Othello Freeman of LBDI, in 2014 the bank and Lonestar entered into an agreement to collaborate, operate and provide mobile money products to the Liberian market and also launch it commercially.
As part of the partnership, the bank will now be forced to set up more branches and do so in remote places, too.
Att’y Massa Dennis, who represented Lonestar Cell MTN said, the launch was a manifestation of the GSM company’s shared vision for leading the way for a cashless economy in Liberia.
Att’y Dennis reiterated that the partnership will enable mobile money subscribers and agents across Liberia to perform mobile money transactions such as cash-in and cash-out, bill payments and all other mobile money services at all LBDI banks across Liberia.
Also speaking, LBDI President John B.S. Davies, said unlike others, the LBDI mobile money program has no threshold for deposit.
“Today we sow another seed of progress among the many important and sensitive targets we set for ourselves as the people’s bank. We today tap into and connect ourselves with the most progressive medium of money transfer which is trailblazing the Liberian economy on a day-to-day basis.
“Real work with LBDI started a year ago. It is important to stress the fact that most strategic partners as a relate to the integration of mutual banking to digital finance just got on board.
“With LBDI mobile money, there is no threshold as compare to other mobile money users; there is also no problem of currency.”
Mr. Davies also disclosed that LBDI will shortly launch its Master Card for online and international transactions as well as launch its push and pull mobile money project that could impact people in faraway places.
“A teacher in River Gee County will no-longer have to travel distance to collect his or her salary,” he emphasized.