Vodacom launches M-Pesa money transfers to Kenya

Image result for vodacom tanzaniaVodacom Tanzania announced that M-Pesa customers can now send money to Kenya and receive cash from their counterparts in the neighbouring country.

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

“Now, customers can transfer funds across the border at the same rate as sending money locally,” Vodacom Tanzania Managing Director, Mr Rene Meza, told a news conference.

He noted that there are 7 million M-Pesa customers in Tanzania, while in Kenya there are over 18 million served by Safaricom, who can now send and receive money from each other.

Mr Meza said available statistics indicate that over 200bn/- is sent from Tanzania to Kenya annually , while the latter sends over 26bn/- to Tanzania.

“Estimates would indicate that more than twice that amount was transacted via informal channels including bus drivers, friends and family,” stated Mr Meza.

“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.

“From today one doesn’t need to send money by suka wa basi (bu driver) or konda (conductor) or incur hefty charges to transfer school fees, buy goods or settle business payments, he or she can do so directly from their M-Pesa wallet and - from the comfort of their home, anytime the need arises,” said Mr Meza.

Safaricom’s Chief Operating Officer Bob Collymore said “We believe that we 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.”
Source: Daily News, reported from Dar es Salaam, Tanzania
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