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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 
Kenya seamless transfer of cash on mobile money gets boost 

NAIROBI (Xinhua) -- Kenya’s mobile phone operator Telkom has joined an initiative to interlink mobile money services, giving Kenyans more options in seamless transfer of cash.

Telkom Kenya jointly announced on Sunday with leading telecoms Safaricom and Airtel that their mobile money networks are now linked to enable consumers send money without glitches or higher charges.

“Today, Safaricom and Telkom have announced integration of their mobile money platforms allowing consumers to transfer cash from Mpesa to T-kash and vice versa,” said the three in a joint statement.

Mobile money interoperability was introduced in Kenya in March, with three Safaricom, Airtel and Telkom, which introduced mobile financial service T-kash, announcing that they would integrate their platforms.

“Starting Oct. 4, Mpesa and T-kash customers will therefore seamlessly send and receive money directly and from their mobile wallets. Telkom’s inclusion is a step towards more integrated mobile money ecosystem and a boost to financial inclusion agenda in Kenya,” the operators said.

The convenience of wallet to wallet transfer sees customers receive money sent from another service provider directly, and the money is credited into their accounts immediately.

The customer can therefore use the money to pay bills, make purchase at a merchant or make withdrawal from their own accounts.

“The last leg of mobile money interoperability between Telkom and Airtel will be launched soon upon completion of necessary processes,” the mobile firm said.

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