In the near future, Kenyans will be able to send and receive mobile money across networks. The ICT ministry with the CA and also the mobile money service providers will launch a mobile money interoperability service. This service, for example, will allow you to send money from MPesa to Airtel Money, Orange Money or Mobikash.
The Pilot Project
The three players have launched a pilot system that will test the service and also come up with its charges. The pilot system will also help the partners know its security and user care.
As per CA, the pilot will take a month. The service will then join the market after approval from CA and the Central Bank of Kenya.
Mobile Money Operators’ Agreement
First, the involved mobile money service providers include Safaricom, Airtel, Equitel, Telkom and may be the FEB Group (Mobikash). Second, the service providers will sign agreements to launch the new service.
Other things that the mobile money operators are looking into include roaming and also tower sharing. The two services had been agreed, and when put in place, will make the major service more useful.
Benefits of the New Mobile Money Service
The service will cause competition in the sector and also protect users from a closed network. It will also ease transactions and improve efficiency in all areas. When it comes to easing transactions, for example, an Airtel Money user will be able to send money directly to an MPesa accounts where it will be reflected. The account owner can then get his or her money from an MPesa agent.
In conclusion, the service will remove the cons of sending and receiving money across another network. It will also lower the transaction fee. Based on reliable sources, there will be no inter fees and that the operators will make use of funded accounts.
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