M-pesa and T-Kash users can now send or receive mobile money easily

Safaricom and Telkom users can now easily transfer cash between each other after the two telcos integrated their mobile money platforms.

Coming at no extra cost to users, this marks the second phase of the mobile interoperability drive that began in April after Safaricom and Airtel integrated their mobile money wallets.

A joint statement by Safaricom, Airtel and Telkom said that final step of the mobile interoperability initiative between Telkom and Airtel will take place at a later date upon "completion of the necessary processes."

The three operators said that wallet to wallet transfers were a game changer as previously users received a voucher which they had to cash in within 7 days or consequently have the funds reversed to the sender.

However, customers must be registered for either Telkom's T-Kash, Airtel's Airtel Money or Safaricom's M-Pesa in order to enjoy interoperability.

“Customers who are not registered on any mobile money will continue to receive voucher codes,” said the three operators.

This latest move, the telcos said, will further boost financial inclusion across the country as they said that mobile money penetration currently exceeded 70 per cent of the population.

“Effective 4th October 2018, M-Pesa and T-Kash customers will now seamlessly send and receive funds directly to and from their mobile wallets,” they said.

“Telkom’s inclusion in the interoperability initiative is a significant step towards a more integrated mobile money ecosystem and a boost to the financial inclusion agenda in Kenya.”

The three mobile service providers also hailed the cost advantage to Kenyans interopability would have.

“Interopability of the three services also presents customers with a cost advantage as the three providers have committed to maintain the p2p pricing between on-net and off-net transactions. This implies that there will be no price difference when sending money to another network.”

T-Kash was launched in March this year.

The interoperability of mobile wallets across networks made Kenya the 16th African country to implement it.

The telcos said that soon all mobile money subscribers would send and receive money across all networks in the country.

"In order to avail a complete ecosystem, the last leg of the mobile money interoperability, between Telkom and Airtel, will be launched later, upon completion of the necessary processes, enabling all mobile money subscribers to send and receive money across all networks in the country," read the statement.

Currently, Kenya has 28.2 million mobile money subscriber with M-Pesa having the largest share at 80 per cent.