MTN Group increases MTN Mobile Money presence in Zambia (Africa)
The MTN Group announced last week that its increasingly popular MTN Mobile Money service will now be available through the extensive MTN agent network and Banc ABC branch network in Zambia, further improving accessibility to financial services via the convenience of mobile telephony for thousands of Zambians.
According to a company report, in terms of the strategic partnership with Banc ABC, MTN customers will be able to load and withdraw money from their mobile phones using MTN Service Centres, MTN agents, Connect Stores and the Banc ABC branch network.
Christian de Faria, Group Commercial Officer, MTN Group, has said that the phenomenal uptake of Mobile Money in Zambia is a clear indication that an increasing number of Zambians are excited to finally have the ability to conduct financial transactions through their mobile phones.
MTN Mobile Money creates a safe environment for the banked and unbanked portion of the population to perform basic banking transactions. In some of the markets where the service is offered, customers are now able to pay their utility bills, among other transactions, using MTN Mobile Money. MTN has successfully deployed its MTN Mobile Money service in 11 other markets, including Uganda, Swaziland, Ghana, Cote d’Ivoire, Cameroon and Rwanda.
De Faria adds that the launch of MTN Mobile Money in Zambia is opening up plenty of exciting opportunities in terms of financial services inclusivity. For them, MTN Mobile Money is integral to their efforts to increase accessibility to financial services for people in their markets.
He added that the agreement with Banc ABC also confirms our commitment to continue exploring innovative ways to make our products as accessible as possible within the Zambian market.
The launch of the MTN Mobile Money service with Banc ABC will enable MTN subscribers to open a mobile money account at any of the bank’s 19 branches and 10 mobile banks across Zambia. Subscribers will, upon registration, be able to load and store electronic money on their mobile phones and use their mobile number as an account number.
says Abdul Ismail, Chief Executive Officer, MTN Zambia has said that the unique feature of MTN Mobile Money is that customers can send money to any cellphone user on MTN or other networks. This joint partnership with Banc ABC as an MTN Mobile Money agent will assist greatly in agent liquidity and providing cash-in and cash-out services for their customers.
MTN Mobile Money is currently being utilised by over 6 million customers across the MTN footprint, with over 2 million of those users in Uganda.
Active mobile money users to exceed 200 million by 2013
Latest analysis report reveals that the need to access basic financial services by users in developing countries will drive the short term growth of active mobile money users globally to exceed 200 million by 2013. Currently, well under 100 million people use these services.
New report also cautions that while there are several high profile examples of extremely successful mobile money services, each new launch needs an established, strong and extensive local distribution network to ensure access to the service.
The reports also unveils the total number of mobile money services, with more launches in the first eleven months of 2010 than in the whole of 2009. However, there are still many developing countries without these services.
Further findings include:
- The market has been boosted recently by person-to-person money apps in developed countries to enable people to easily make social transfers such as split the cost of meals, or pay the babysitter
- Nearly 40% of active users in 2015 will be in the Africa & Middle East region
Aegis and Saudi Telecom Form Joint Venture to Transform Customer Care in the Region
Saudi Telecom Co. (STC), Saudi Arabia’s largest telecom operator and Aegis, a global outsourcing services company and part of the $15 billion Essar Group, today announced a landmark strategic partnership, which would see Aegis managing STC’s entire customer care operations including billing, directory enquiry, collection, verification.
Aegis, a leader in total customer lifecycle management, serves over 150 clients through a network of 47 delivery centers spread across 11 countries. It has more than 50,000 employees and serves a diversified base of customers in Banking, Financial Services, Insurance, Telecom, Healthcare, Travel & Hospitality, Consumer Goods, Retail and Technology.
Aegis and STC will form a joint venture, Call Centre Company (CCC), to provide customer care to STC’s 28 million customers in Saudi Arabia. Initially, STC will transfer 550 agents across two directory-assistance centers. Over the next 18-24 months, Aegis will re-badge the remaining 4,500 STC customer care agents.
Both partners would have near-equal stakes in CCC, with STC holding 50% plus one share, and Aegis the rest. Aegis would have operational control and responsibilities. CCC would enjoy an exclusivity contract with STC. Besides targeting other customers in Saudi Arabia, CCC would also pursue customer care opportunities in Bahrain and Kuwait.
“STC has been a pioneer in the telecom landscape of Saudi Arabia and now has broadened its horizon to focus on other growth markets like the Gulf states, Africa, and India. We will increase our focus on our core operations, such as providing next generation telecommunication service to our customers. We are happy to have found an able partner in Aegis, we are confident Aegis would provide a great level of satisfaction to our customers, given their vast experience in managing customer experience across multiple geographies,” said Saud Al Daweesh, Group CEO, STC.
“We are pleased to be selected by STC in this landmark deal which not only demonstrates the visionary thinking of STC but also endorses Aegis’ expertise in managing customer experience,” said Aparup Sengupta, Managing Director & Global CEO, Aegis. “This deal would help STC vary their fixed cost and free up their management bandwidth to focus on emerging opportunities. This would also provide a huge boost to Aegis’ West Asia presence, since the joint venture would actively seek new businesses. We have aspirations of making this the largest BPO operation in the region.”
About Aegis
Aegis is a world-leading outsourcing services partner for more than 150 clients and with over two decades of leadership in total customer lifecycle management. The company has more than 50,000 employees across 47 locations, with a presence in 11 countries, serving verticals such as BFSI, Telecom, Healthcare, Travel & Hospitality, Consumer Goods, Retail and Technology. The company specializes in tailor-made solutions that cover the entire spectrum of customer and business experiences — across business processing, technology, and shared services — and offers customized engagement models to further facilitate the ease of doing business. Aegis is wholly owned by the Essar Group — a US$15 billion conglomerate. For more information, please visit www.aegisglobal.com.
About STC
Saudi Telecom owns and operates the largest, most reliable and diverse state-of-art telecommunications infrastructure, with investments in major terabit-size submarine cable systems passing through the Region, a self-healing national backhaul network, and multiple border-crossing terrestrial fiber optics links. As a consequence, Saudi Telecom has succeeded in becoming the leading Wholesaler within the Region by fully addressing the telecommunications requirements of its domestic and international customers at very attractive terms and with innovative services and unparalleled connectivity. STC, nowadays working in 10 different markets through its subsidiaries and affiliates having an access to more than 100 million subscribers. For more information, please visit www.stc.com.sa.
1 in 5 Mobile users to use mobile money services in 2013
A new research report has revealed that the array of financial services possible via mobile phones are proving so attractive that some developing countries are seeing unprecedented penetration levels of up to one in two mobile subscribers within two to three years from launch.
Regionally, the report identifies that some developing regions will achieve a rate of 1 in 5 money service users over the next 2 years which is a remarkable level of adoption for such new services.
According to research analysts, research found that, money transfers, bill payments and airtime top-ups constitute the typical top three mobile money services in an operator’s portfolio. Increasingly though merchant payments are being offered and operators can, via partnerships with supermarkets for example, enable people to pay for their shopping this way.
However, report also warns that prospective users can be discouraged to join such services if the KYC (Know Your Customer) requirements are too onerous, or simply not achievable.
The report also found that domestic transfers, airtime top-ups and bill payments account for at least 60% of all applications. Also, following the recession international mobile money transfer users will more than double by 2013, driven by migrant workers, with services launched by MNOs and remittance hubs for country specific migration corridors.
FIS launches prepaid electronic financial account service (USA)
FIS, US-based banking and payments technology provider has launched a prepaid electronic financial account service, in a bid to offer financial services to a range of consumer segments.
With the new electronic financial account application customers will be able to make electronic deposits and payments as an alternative to traditional demand deposit account (DDA) or general-purpose reloadable (GPR) prepaid card.
In addition, users can access the prepaid electronic financial account service via a range of channels, including online, mobile, point-of-sale (POS), ATM, interactive voice response (IVR) as well as through a call center. Account holders can conduct payments using various payment networks such as Visa, MasterCard and the NYCE payments network. Moreover, with the new application, users can also initiate payments to billers and electronically transfer funds between accounts.
Cisco reveals Videoconferencing system
Cisco Systems Inc. has unveiled a videoconferencing system, representing the first venture by the company into a market now conquered by free video chat services like Skype.
The system, called Cisco UMI, will allow consumers to make video chats from high-definition and Internet-connected televisions. Umi includes a HD camera, a console and a remote. The device will cost US$599 with a monthly fee of US$24.99 for unlimited calling and video messaging and storage.
According to John Chambers, Cisco’s chief executive officer, Cisco Umi will bring the unique tele-presence experience into living rooms and change the way we are able to be together with family and friends. The company envisions a future where technologies like this will play a role in connecting consumers with businesses to enable the delivery of new services ranging from education, to health care, to financial services, to the home.
According to Cisco, consumers can pre-order Umi on the company’s website and the product is scheduled to be available in the stores of electronics retailer Best Buy from Nov. 14.
