M-money service launched in Cameroon
Mobile Money (www.mobilemoneysa.com) has launched a mobile payment plarform in Cameroon that will allow mobile phone customers to transfer money and pay bills. The product was launched in December at the Promote 2008 exhibition in Yaounde by Express Union, an existing money transfer operator in Central Africa.
Mobile Money is delivered through a network of partners including micro-finance institutions, companies that provide cash for fund transfers and other physical outlets. These outlets have an electronic payment terminal that communicates in real time with a central server.
The service joins those already operated by Safaricom in Kenya and Tanzania (M-Pesa), Zantel in Tanzania (Z-Pesa) and Orange in Cote d’Ivoire (Orange Money).