Safaricom expands M-pesa mobile money transfer service in Africa

On 01.10.11, In Mobile, By Editor

Safaricom, East Africa’s largest mobile operator, is expanding its M-pesa mobile money transfer service across Africa, a move likely to increase competition for mobile money-transfer services in the region.

The launch of the mobile money transfer service by Safaricom comes less than two months after MTN and Western Union partnered to introduce international remittance services in 21 countries where MTN has a presence.

Meanwhile, the Zap service operated by Bharti Airtel has also been expanding steadily over the past year. MTN’s mobile money transfer already boasts over 1 million registered customers in Uganda alone.

The launch of the service by operators is threatening the continued existence of traditional money transfer services. Most Africans are now using mobile financial services to buy goods, pay utility bills, buy mobile airtime as well as receive funds from abroad.

The M-pesa service is currently available in Africa and the Middle East including South Africa, Kenya, Tanzania and Afghanistan and is currently being piloted in India.

Former Safaricom CEO Michael Joseph who chairs the board of directors of both Safaricom and Vodacom is expected to lead the expansion of the M-pesa service across Africa. Vodafone owns 65 percent stake in Vodacom Group, based in South Africa. Joseph was instrumental in making M-pesa a success when he was at the helm of Safaricom and is expected to drive the regional expansion program. The M-pesa mobile commerce was launched by Safaricom in 2007 and has since been expanding, with more than 13 million subscribers at this point.

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Western Union, MTN to launch Cross-Border Mobile Money Transfer Service (South Africa)

On 11.11.10, In Mobile, By Editor

MTN and Western Union has announced a deal to introduce Cross-Border Mobile Money Transfer service in 21 countries.

The service will allow MTN subscribers to send and receive Western Union Money Transfer transactions using their MTN Mobile Money accounts. Additionally, Mobile Money users in certain countries will be able to transfer transactions directly from their mobile phones for payout at one of Western Union’s 386,000 Agent locations in 200 countries and territories around the world.

The service will first be introduced in Uganda, where MTN’s Mobile Money service already holds over 1 million registered users. According to the World Bank, Uganda receives nearly US$500 million in remittances every year, making up 3% of the country’s GDP.

The mobile money will not just help the users in transferring money but will also help them to use the funds to pay bills, top-up airtime, send money domestically and internationally, or withdraw cash at Mobile Money Agents or any participating ATM.

According to Khalid Fellahi, Western Union’s Head of Mobile Transaction Services, the Western Union Mobile Money Transfer service is a key part of the company’s multi-channel strategy to offer consumers numerous ways to send and receive money. This alliance with MTN – one of the world’s most successful mobile operators – will introduce cross-border remittances to an entirely new segment of customers by allowing them to send and receive money using just their mobile phones.

MTN’s Mobile Money service is currently available in Benin, Cameroon, Ghana, Guinea-Bissau, Ivory Coast, Rwanda, South Africa and Uganda, with pilots underway in several other markets.

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M-Pesa launches in UK (Kenya)

On 10.13.09, In Mobile, By Editor

Vodafone’s group company, Safarikom has launched m-pesa, it’s mobile money transfer and payment service at selected outlets in the UK.

Kenyans in the UK  can now send money to their friends and family in Kenya through M-pesa UK, direct to their mobile phone wallets.

Western Union, Provident Capital Transfers and KenTv were involved in a small pilot before the commercial launch of this service.  A total of 19 outlets with high local kenyan population were selected to trial this service.

To send money using M-PESA, the sender in UK will be required to identify themselves and furnish the agent with the recipient’s name, Kenyan mobile number and the amount being sent in Sterling Pounds. This will be converted at current rates and sent in Kenyan Shillings.  Neither party is charged a registration fee.

A transaction fee ranging from £4 to £6.90 will be charged though.

Following authorisation by the Central Bank of Kenya, Safaricom shall be increasing the locations in the UK from which money can be sent to M-pesa customers as well as launching services across other popular remittance corridors

Currently, the maximum amount that can be sent internationally per transaction through M-pesa is £250 while the total allowable per month from a single sender in the UK is £1,000.

The successful take-up of M-PESA in Kenya has clearly demonstrated the demand for easily accessible, secure cash payment services in emerging markets,” said Nick Hughes, Vodafone’s Head of International Mobile Payments. Our partnership with Western Union allows M-PESA subscribers to receive international remittances and builds on the demand we have already seen domestically in Kenya.”

This program aligns a global leader in money-transfer services, the world’s largest mobile operator group, and arguably one of the most impressive success stories in mobile money,” said Matt Dill, Senior Vice President, Western Union Digital Ventures.  In offering M-PESA users the opportunity to receive funds from abroad for the first time, these three companies are changing the way money moves around the
globe.”

Safaricom CEO Michael Joseph said: We wish to invite Kenyans living in the UK to take advantage of this service, which presents a real innovation on our M-pesa menu. Through strategic partnerships with Western Union, Provident Capital and KenTV we are giving them an opportunity to convert across two currencies into M-pesa and send money affordably without any hidden costs directly to the mobile phone of the recipient.”

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Western Union, GSMA to create mobile money transfer service

On 10.19.07, In Mobile, By Editor

The GSM Association and money transfer services specialist The Western Union Company have announced an agreement to facilitate the development of cross-border mobile money transfer services. Western Union and the GSMA are developing a commercial and technical framework that mobile operators can use to deploy services that enable consumers to send and receive low-denomination, high frequency money transfers using mobile phones. The Western Union mobile service will connect operators to Western Union’s existing global money transfer system. Once connected to the Western Union service, operators will be able to use their own mobile wallet software to enable person-to-person mobile money transfers over Western Union’s cross-border remittance network. The Mobile Money Transfer service will enable consumers to transfer money to or from mobile wallets and will offer a global network of Western Union Agent locations for cash-to-mobile and mobile-to-cash transactions. Thirty-five GSMA operators are participating in the GSMA Mobile Money Transfer programme. The first commercial services that make use of the framework are anticipated to be rolled out in the second quarter of 2008.

   

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