× Digital News Videos Opinion Special Reports Lifestyle Central Coast Eastern Nairobi North Eastern Nyanza Rift Valley Western Business News Stocks Financial Standard Africa Asia America Europe Weird News Editorial Commentary Letters Crazy World Features Entertainment Money & Careers Health & Science Sci & Tech Home & Away Generation Next Cartoon Education Pointblank Environment Travel & Destination Columns Kipkoech Tanui uReport Kiambu Murang'a Nyandarua Kirinyaga Nyeri Baringo Bomet Elgeyo Kajiado Kericho Laikipia Nakuru Nandi Narok Samburu Trans Nzoia Turkana Mombasa Kwale Kilifi Tanariver Taita Taveta Kakamega Vihiga Bungoma Busia Siaya Kisumu Homabay Migori Kisii Nyamira Nairobi Uasin Gishu West Pokot Sunday Magazine The Hague Trial Kenya @ 50 Education and Training Health and Environment Insurance and Financial Security Housing Current Affairs Humour Makau Mutua David Oginde Clay Muganda Comand Your Morning Mohamed Wehliye Wednesday Life Alexander Chagema Arts & Culture Kamotho Waiganjo Barrack Muluka Xn Iraki Urban Rights - By Steve Ouma Branding Voice KCB Fredrick Ogola Sunday Magazine Wanja Kavengi Njoki Kaigai David Oginde Ken Opalo Daisy Maritim Houghton Irungu Hustle News Group Stages Round of 16 Quarter Finals Semi Finals Finals Third Place play-offs Opinion Dr Pesa Podcasts Round Table Sepetuko Eve Woman Ramadhan Special Fact Check Correction Explainers The Standard Insider Blog E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

You can now send or receive mobile money across networks

By Frankline Sunday | April 7th 2018 at 01:44:39 GMT +0300

M-Pesa shop

Kenyans will be able to send and receive money across networks at no extra cost starting Tuesday. This is as operators launch an interoperable mobile money wallet. 

This service will allow for the seamless transfer of funds from one mobile money wallet to another across Safaricom, Airtel and Telkom, shortening the cumbersome process consumers were subjected to when transacting across networks.

“Previously, the transfer across networks was complex, costly and inconvenient,” explains a joint statement from Safaricom, Airtel and Telkom announcing the launch.

“This was due to the money being transferred not reflecting directly into the recipient’s wallet as a result of lack of connectivity between platforms.”

Customers receiving money from other networks would receive a text message informing them to withdraw the funds from the sender’s network in order to access the funds.

Tuesday’s launch of the interoperable mobile wallet will see users send and receive money through one common wallet irrespective of their mobile networks.

Removes the barriers

This will start with Airtel and Safaricom. Telkom, which launched its own mobile money service T-Kash last month, will join the two at a later date.

The move follows months of deliberations between the three mobile service providers and will see Kenya become the 16th country on the continent to successfully implement wallet interoperability.

According to the Kenya Institute of Economic Affairs (IEA), setting up an interoperable wallet between service providers was one of the means of stimulating healthy competition and innovation in the telecoms industry.

“Interoperability is something that is welcome and is consistent with consumer interest because it removes the barriers of sending money across networks and improves the value of the service,” said IEA Chief Executive Officer Kwame Owino.

Kenya is a leader in the area of mobile money service and has been credited for deepening financial access.

There are currently 28.2 million mobile money subscribers. M-Pesa has the largest share with 22.8 million subscribers, or 80 per cent market share.

Interoperability Airtel Telkom Safaricom mobile money
Share this story

Read More