Tuesday
July 24
2018

Coming soon to Rwanda: Mobile money transfers across networks

By Kabona Esiara

Mobile money subscribers in Rwanda can expect lower transaction costs and convenience as telcos move to integrate their systems.

Airtel Rwanda, Tigo Rwanda and MTN are seeking regulatory approval to roll out cross-network services like their counterparts in Kenya and Tanzania.

These approvals will set the stage for the telcos to start commercial negotiations, agree on transaction tariffs and sign agreements with an independent switch provider, enabling them to embrace mobile money interoperability or the ability to offer services across networks.

Analysts say mobile money services in Rwanda have not been fully exploited, partly because of the high costs of transactions. A typical off-net transaction requires an agent to transfer money to another account, which comes with extra costs.

Photo courtesy of Simone McCourtie.

Source: The East African (link opens in a new window)

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Inclusive Fintech
Tags
fintech, mobile banking, mobile finance, mobile money, Rwanda, telecommunications