TANZANIA Telecommunications Company Limited (TTCL) is set to enter into the highly competitive and rapidly growing mobile money transfer services next month, promising friendly and cheaper services.
TTCL joins the race amid fierce
competition among the communication companies, with reports from the
industry indicating that over 25tri/- was transacted last year through
the mobile money transfer services.
Speaking to the ‘Daily News’ here
yesterday, TTCL Acting Chief Executive Officer (CEO) Waziri Kindamba,
said all were set for the new services, hinting that the
telecommunications firm was finalising some crucial procedures with
regulatory authorities.
“We have already tested the service with
ourinternal customers and it has proven tremendous outcomes ... we are
determined to enter the market differently,” revealed Mr Kindamba,
without specifying the trade name that could be used. The new service
could be referred to as TTCL-PESA just like other companies do, but the
CEO said the company is working on a unique name to make TTCL unique in
the market.
The bank of Tanzania said Mr Kindamba
has advised TTCL to form a subsidiary firm that will operate the new
service while all other procedures are being finalised by the regulatory
bodies, including the Treasury Registrar (TR).
Mobile money services allow users to
store funds in a phone account, with majority people snubbing bank
accounts although some operators have integrated the users’ bank
accounts with their mobile accounts.
So far all mobile money operators in
Tanzania are offering similar services that enable users to easily
deposit, withdraw, transfer money, settle bills and pay for goods
through their phones.
Experience shows that bill settlement
has become easy, with users paying electricity bills, water bills,
government taxes, road licences, flight tickets and even satellite TV
subscriptions through phones.
Introduction of the new services by TTCL
brings good news to especially rural dwellers who have limited access
to conventional bank services and for years have been yearning for
cheaper mobile communication services.
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