Mobile operator MTN Nigeria has joined forces with pan-African ICT company, Computer Warehouse Group (CWG), to launch a new e-commerce solution.

The new MTN XaaS solution has been designed for microfinance, savings and loans, cooperative and other small scale financial institutions, reported Ventures Africa.

The platform aims to make financial services accessible to the banked and unbanked population in a cost effective manner, as part of the country’s financial sectors’ vision 2020.

Additionally, the mobile payment solution will allow banks and Mobile Money operators to launch mobile financial services to their numerous customers.

CWG managing director, Austin Okere, was quoted by the news agency as saying that MTN will jointly create a business model that sets new paradigms for mobile commerce.

He added that the platform will enable millions of bank and mobile network customers to make cashless payments and settlements through their mobile phones.