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   Virtual Terminal Network (VTN)
Created Date: 10/2/2009 9:08:08 AM
Country: Nigeria
Focus: ICT for MDGs, Citizen Engagement
Status: In use
License: Open Source
Product Type: Software - Mobile
Target Users: users at emerging markets
Developer Name: LFR Communications
Product Url: http://www.virtualterminalnetwork.com/pre_launch/index_start.asp
System Requirements: In order to use VTN, users need to sign up or register as VTN users.
Description: Virtual Terminal Network (VTN) is a virtual or mobile payment network designed solely for developing economies, keeping emerging markets in mind by not requiring expensive and impractical payment initiatives of the yester years. With initial deployment in Nigeria, the most practical and latest in mobile and web technology is used to help make transactions and accessing funds more convenient nationwide.

VTN allows merchants and retailers to process transactions safely and securely from any computer connected to the internet and GSM mobile phone. With a secure login, users can complete transactions rapidly within the VTN network and receive instant authorization in real time. For the eventual deployment in other countries, VTN can run both English, French and Spanish.

To register, users need to purchase a VTN reload card. VTN reload cards can be purchased from any reseller. To fund their VTN accounts, user can go to any of the participating banks. There is no limit to what users can do once their VTN accounts are funded. On the other hand, it’s an opportunity for businesses to acquire more their clientele with automated account and transaction management.

VTN offers three types of accounts to general public. Account holders can fund their accounts via any participating financial institutions, agents and retailers in VTN''s extensive network. Users can withdraw their funds easily and securely over the internet or by using their GSM mobile phones, and then pick up their funds at any participating Bank or financial institution whenever they like.

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