Browsing: Vodacom

An M-Pesa transaction. The Communications Authority of Kenya (CA) says that 97 out of 100 Kenyans have mobile phones, transacting almost Sh2 Trillion in three months www.exchange.co.tz

M-Pesa is the lowest cost channel for sending money from Kenya to Tanzania and Rwanda at around 3 per cent of the transaction value today.

This is according to a Vodacom report released during a stakeholders’ meeting in Tanzania.

The report points out that regulators can support this transformation by adopting a progressive, proportionate, and pro-mobile approach to remittances.

The sustainable mobile payment ecosystem

“Embracing the fact that mobile is the channel of the future – and the present – means regulators can focus on ways to leverage the strengths of mobile channels, rather than the ways in which mobile money is “less than” traditional banking services,” notes the report.

Stakeholders from 8 African countries are meeting in Tanzania to deliberate on policies and frameworks to drive innovation, technology and sustainable mobile payment ecosystem.

Key representatives from these 8 countries gathered at a workshop organized by Vodacom to look into …

Vodacom, has unveiled a first in the market mobile money service that allows M-PESA customers to complete their M-PESA transactions when they have insufficient funds in their M-PESA accounts.

This innovative solution dubbed Songesha was launched in partnership with TPB bank at an event at the company’s headquarter.

In January this year, Safaricom launched a feature on M-Pesa dubbed Fuliza that allows users access an overdraft facility and it has since garnered millions of users in Kenya.

With the introduction of the overdraft service, M-Pesa customers can now use M-Pesa with ease and confidence because they have instant access to credit to enables them to make money transfers, remit bills, purchase from merchants or when they have insufficient funds in their accounts.

According to a statement from Vodacom, the Director of M-Commerce, Epimack Mbeteni said, “Our desire to spur innovative mobile finance led us to keenly take note of our …

Close to 8 million Vodacom M-Pesa customers will from today receive their share of the Tzs.27 billion ($11.718 million) profit distribution accumulated on M-Pesa Trust Accounts.

The leading telecom provider has announced that its M-Pesa customers will over the next month and a half, receive their share of the bonus interest earned as a benefit from using the service.

Speaking to the media, Vodacom Tanzania M-Commerce Director, Epimarck Mbeteni said, “We are thrilled to share M-Pesa interest with our customers because our customers are the reason for the M-Pesa success story. M-Pesa continues to transform the lives of millions of Tanzanians and today’s initiative will see more continue to benefit from it. All Vodacom customers that have been using M-Pesa will benefit from the interest which will be distributed via M-Pesa and deposited directly into their M-Pesa wallets. We have started distributing the Tzs. 27 billion interest fund to approximately …

Vodacom Tanzania has posted a strong full year results driven by Data and M-Pesa services.

In its preliminary results for the year ended 31 March 2019. The company achieved a 5.4 per cent growth in service revenue, reaching TZS1,018.9 billion ($443.389 million), driven by strong growth in M-Pesa, mobile data and messaging revenue demonstrating its ambition to pioneer inclusive growth through financial inclusion and connectivity.

According to a statement from Vodacom, the firm maintained market leadership as the number 1 mobile and financial service operator in Tanzania with 14.1 million customers- a growth of 9.6 per cent, increasing its market share to 32.4 per cent. Leadership in mobile money grew to 38.6 per cent reaching 7 million M-Pesa users transacting over TZS4.1 trillion ($1.784 billion) monthly.

Vodacom’s Managing Director, Hisham Hendi said, “The M-Pesa platform continues to open up opportunities for Tanzanians to earn a living registering 620,000 new customers, …