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Kenya Demands Single Mobile Money Transfer

A task force set up by Kenya’s Prime Minister’s office has proposed that mobile firms should work towards creating a seamless mobile money transfer system regulated by Central Bank of Kenya as a way of increasing the usage of the service.

This means subscribers of any network will be able to send and receive money via their mobile phones across any other network.

yuMobile Country Manager, Madhur Taneja says it was their desire to give subscribers the very best in services and one way of doing that was to ensure that his country eliminated any blockages that hindered consumers from making choices that suited their needs.

“Customers should be able to transfer money across networks just like they are able to make calls and send text messages, and with yuCash, they will enjoy affordable rates and unique features such as being able to transact online when they don’t have their mobile handset at hand.”

“We hope that the CCK and Central Bank Kenya will back the implementation of this useful platform that is long overdue,” says Taneja.

Since its inception, market players have continued to seek opportunities to improve this innovative money transfer service but the biggest obstacle has been the inability to transfer money across networks.

Recently the government through the Office of the Prime Minister established a taskforce to review and make recommendations on mobile telephony in the country.

The company says that revolution of mobile money transfer in the country continues to transform the financial sector and socioeconomic development of Kenyans.

Many financial institutions are partnering with mobile service providers in creating platforms that afford convenience and flexibility to consumers, by providing easy accessibility of financial services to Kenyans who reside in remote areas and are limited to these services.



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