“Under the pact 4 million Tigo-Pesa users can transact directly with 7 million M-Pesa clients, in a move seen as another tangible step towards broader financial inclusion and expansion of mobile money ecosystem in Tanzania,” read a joint press release issued after the signing ceremony.
The International Finance Corporation (IFC) formulated the mobile-wallet-to-wallet standards with support from Groupe Speciale Mobile Association (GSMA) which have been the basis of interoperability discussions between mobile network operators in Tanzania.
Vodacom Tanzania Managing Director Mr Rene Meza said: “This is a great evolution of the mobile money service in Tanzania.
Our customers will soon be able to directly access the money received through Tigo Pesa and use it for whatever purposes they may have without necessarily having to cash it out.
“M-Pesa users can pay for an array of services from their phones. These include - TV subscriptions, flights, insurance premiums, LUKU, tax, school fees, pension and loan repayments.”
Tigo General Manager Diego Gutierrez said: “Tigo- Pesa customers will now have the Africa’s first universal mobile money exchange system.
“They will be able to safely and securely send and receive money from their respective mobile money wallets with over 12 million people across the country.
“If you are an M-Pesa farmer in Kagera wanting to buy tools from Tigo-Pesa customer in Dar es Salaam, this new service will be an ideal payment mechanism.”
Source: Daily News, reported from Dar es Salaam, Tanzania
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