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NAIROBI, KENYA: The dominance of telecoms giant Safaricom Limited in the mobile money transfer business is set to face the first credible threat.
This is in the form of Equitel, a direct interface between a customer’s bank account and the mobile phone-the first such innovation introduced by Equity Bank Group and mobile operator-Airtel Kenya.
The new mobile and banking platform, will offer Equity Bank customers a free service while transferring cash between their bank account and the mobile phone and vice versa, riding on a Thin Sim Technology that will be ideal for those subscribers with mobile phones that are not dual SIM.
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