{"id":383401,"date":"2011-04-21T00:00:00","date_gmt":"2011-04-21T00:00:00","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/21\/firm-begins-street-banking-services-for-the-unbanked\/"},"modified":"2011-04-21T00:00:00","modified_gmt":"2011-04-21T00:00:00","slug":"firm-begins-street-banking-services-for-the-unbanked","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/21\/firm-begins-street-banking-services-for-the-unbanked\/","title":{"rendered":"Firm begins street banking services for the unbanked"},"content":{"rendered":"
\n

PROPELLED by the need to provide financial inclusion services for the un-banked community, an electronic processor for low value transactions, 3Line Card Management, a pioneering e-payment firm, has signed over 1000 residents in Lekki, Ajah, Epe and its axis on its street banking services in four days.<\/p>\n

General Manager of the company, Mrs. Funke Ade-Ojo expalined that there are several services on the Freedom Network, which offer instant light banking services to the users through appointed neighbourhood service providers and merchants.<\/p>\n

These services include cash withdrawal, money transfer, airtime top ups, ticketing, pay-as-you-go vehicle insurance and utility bill payment at a shop.<\/p>\n

She explained that residents of the Marina-Epe neighbourhood would be served by over 25 Freedom Network merchants spread from Total Petrol station in Aiyetoro, Epe, Ikota shopping complex, Muri Okunola area, Kingsways Road and Adeniji Adele\/Sura Market among others. The residents of these neighbours have taken advantage of the proximity, and availability of the merchants and would benefit from the array of services on the network.<\/p>\n

While educating the residents about the various services available on the network and how they could benefit from such, as well as highlighting the locations of the merchants in the neighbourhoods, the strategic marketing officer of 3Line, Muyiwa Oyefeso, explained that the residents on the Freedom Network are issued Freedom card.<\/p>\n

The card allows cardholders to engage in different transactions on the network such as fund transfer, saving\/deposit, cash withdrawal and purchases, while cardholders from other networks could only make purchases.<\/p>\n

On the other hand, the Freedom card allows users to withdraw cash at mostly ATM locations and purchases at merchant outlets.<\/p>\n

According to him, three different accounts exist on the card. One account is on the chip, which is useful for offline transactions, another is an online for prepaid account and a debit account that could be linked to holder\u2019s bank account.<\/p>\n

Another edge Freedom card has over other cards is its dynamic data authentication (DDA) technology while others cards use static data authentication (SDA).<\/p>\n

While the SDA cards can be cloned, it is difficult to clone the DDA cards because its cryptographic keys are generated for different transactions. With this capability, Freedom cardholders have the opportunity to transact business in an unreliable telecommunications environment, as is the case in Nigeria.<\/p>\n<\/div>\n<\/p>\n

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\nFirm begins street banking services for the unbanked<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PROPELLED by the need to provide financial inclusion services for the un-banked community, an electronic processor for low value transactions, 3Line Card Management, a pioneering e-payment firm, has signed over 1000 residents in Lekki, Ajah, Epe and its axis on its street banking services in four days. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-383401","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\nFirm begins street banking services for the unbanked - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/04\/21\/firm-begins-street-banking-services-for-the-unbanked\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Firm begins street banking services for the unbanked - 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