Three mobile operators, Airtel, Telkom, and Safaricom, are set to launch mobile interoperability in Kenya, joining 15 other countries in the world that have successfully executed wallet-to-wallet interoperability.
The service will enable customers to “transfer money from one mobile wallet to another across networks.” That is to say, money will move directly from the sender’s wallet to the recipient’s wallet.
According to the Communication Authority of Kenya’s recent quarterly statistics, mobile money subscribers in Kenya are more than 25 million which means that the ability to make wallet-to-wallet transfers will increase convenience.
“Previously, the transfer of funds across networks was not a seamless process; it was complex, costly, and inconvenient. This was due to the money being transferred not reflecting directly into the recipient’s wallets, as a result of lack of connectivity between mobile money platforms,” the official press release states.
Now, with mobile money interoperability, customers can send and receive money directly regardless of the network they are subscribed to. Ergo, this increases flexibility and convenient when conducting transactions. What’s more mobile money interoperability will also promote financial inclusion and empower customers.
“We remain grateful to respective government institutions and regulatory agencies for their endorsement and continued support in ensuring that we operate in a favourable environment that supports the development of free enterprise.”
Safaricom and Airtel will launch mobile money interoperability on 10 April 2018 while Telkom will launch thereafter with the two telcos.
- KWS
