Mobile money services are offered predominantly by M-Pesa, with Orange Money and Airtel Money being other providers. However, others such as Tangaza Pesa, Equitel and Zioncell are emerging.
Communications Authority of Kenyas data show mobile money transfer service subscriptions stood at 26.2 million in March 2014.
The Central Bank of Kenya figures indicate the value of mobile phone money transfers stood at Sh1.9 billion in 2013.
A vast majority of respondents perceive mobile banking as cheaper than normal banking services and have quite positive attitude to it. The overall trust in the technology is about 50 per cent. However, fraud and third party agents have increased doubts on mobile money security, the report says.
NAIROBI, KENYA: Bharti Airtel has partnered with the Kenya Revenue Authority ( KRA) to offer Kenyans an opportunity to pay their taxes through Airtel Money.
Through the partnership, the telecommunications service provider with operations in 20 countries across Asia and Africa would allow customers across the country to inquire for KRA services, generate a payment reference number and make quick simple payments through Airtel Money by dialing the short code *572#.
The service provides Airtel Money customers in Kenya a convenient, flexible and time-saving option for tax payment as they would no longer have to walk into KRA banking halls to queue to pay their taxes.
THE migration of MTN Zambias mobile money platform was successful and normal service has been restored.
The migration start started on Friday October 17, 2014 at midnight and end on Sunday October 19 2014 at midnight.
During the period of migration, MTN Mobile Money services were not available.
MTN Zambia chief sales and distribution officer Amon Jere said in a statement yesterday that the upgrade was successful.
He said that as Zambia embraced mobile technology, it was important to support this enthusiasm with world class technologies.
MTN Zambia is focused and committed to harnessing advancements made in mobile technology to deliver digital solutions aimed at enhancing both businesses and the lives of our individual consumers. This is in line with our vision to lead the delivery of a bold new digital world, he said.
MTN Rwanda will integrate its mobile money system with that of MTN Uganda in November, allowing subscribers to send and receive money between the two countries, the New Times reported. MTN Rwanda GM Norman Munyampundu said the sister companies would sign a deal to that effect by the end of October. Munyampundu is optimistic that the service will reduce the cost of transactions and enhance cross-border trade between Rwanda and Uganda.
MTN is taking cue from Tigo, which earlier this year started a cross-border mobile money service with Tigo Tanzania, said New Times.
MTN moved RWF 96.5 billion on its mobile money platform during the third quarter of the year, up from RWF 80 billion in the second quarter. This involved about 4.5 million subscribers compared with 3.5 million previously. According to Munyampundu, MTN Mobile Money penetration had expanded by 81 percent by end of September, contributing 44 percent of the firms revenues.