Mahindra Comviva builds interoperability between Tanzanian telcos for mobile money exchange

Wednesday, November 12, 2014

Mahindra Comviva, the global leader in providing mobility solutions, announced that it has enabled the world’s first domestic interoperable mobile financial service between Airtel Money and Tigo Pesa in Tanzania.

The service allows customers to send and receive money directly between the mobile money accounts of these two service providers. The new service made the use of mobile money more convenient for millions of users in Tanzania by expanding the network of people they can transact with. This first-of-its-kind service will enhance financial inclusion in Tanzania and complement the national financial inclusion framework, which aims to make formal financial services available to 50% of adult Tanzanians by 2015.

Powered by Mahindra Comviva’s award winning mobiquity® Money, the interoperable mobile financial service offers users access to secure, fast and reliable money transfer to friends and family members who use another operator’s mobile money service. The service simplifies off-net money transfers and enables recipients to transact through the convenience of their own mobile phone without cashing out.

Source: Finextra (link opens in a new window)

mobile finance