This is a big breakthrough not just for the Kenyan web or mobile payment industry but for Africa at large, it is also imperative technological advancement of this sort is introduced in Nigeria.
In Kenya, Telecom firms are expected to begin trialing mobile money transfer from one network to the other from this month.
Safaricom said that the companies had signed the requisite agreements to set up the system called interoperability and that a pilot phase was expected in the third week of January.
“The necessary interoperability agreements have been executed between the mobile operators and at the moment, all operators are in the final stages of aligning their systems to facilitate the roll out of the service,” said Safaricom chief executive, Mr. Bob Collymore, in a statement to the Business Daily.
My take on this!
For this feat to work out MPESA should be brought in, I am talking about Kenya's largest mobile money platform.
This is something to look up too and I think Safaricom will be the obvious winner here. There will be more outgoing transactions from Mpesa to other networks.
At present, termination fees stand at KES33 per transaction. That is the only thing that players will drop. Other transaction charges such as sending and withdrawing will remain intact as per the companies’ prevailing charges.
Imagine what will happen if the likes of Paga collaborate with MTN, 9mobile, GLO and Airtel to offer a similar service in Nigeria with our gigantic population. It is going to be a win win situation for everybody.