Millions to benefit from Kenya, Tanzania transfer service



from ALLOYCE KIMBUNGA in Dar es Salaam, Tanzania
DAR ES SALAAM, (CAJ News) – MILLIONS of M-Pesa customers in Tanzania and Kenya can now send and receive money following a partnership between mobile network operators.

Over 7 million Vodacom’s M-Pesa customers and more than 18 million Safaricom customers in the two countries are poised to benefit.

The revolutionary service allows for mobile wallet-to-wallet transfers between the two largest telecom operators in East Africa.

Customers can transfer funds across the border at the same rate as sending money locally.

“We have looked into the hurdles that our customers need to overcome in order to send and receive money across to our neighbors in Kenya and have come up with a safe, secure and convenient way to do so,” said Rene Meza, Vodacom Tanzania Managing Director.

Safaricom’s Chief Executive Officer, Bob Collymore, believes they have launched a new chapter in the continuing growth story of M-Pesa.

“Enabling transactions between Kenya and Tanzania will make it ever-more convenient for businesses and individuals to transact across borders and unleash the transformative power of a first of its kind cross-border payment system,” he said.

Statistics indicate that over TZS 200 billion is sent from Tanzania to Kenya annually, while the latter sends over TZS 26 billion to Tanzania.

– CAJ News

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Posted by on Mar 9 2015. Filed under Featured, Finance, Finance & Banking, Mobile & Telecoms, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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