Vodacom, Tigo claim ‘Africa's first mobile money interoperability deal'

Money Transfer

Tanzanian cellcos Vodacom and Tigo have signed a mobile money interoperability agreement to enable their respective M-Pesa and Tigo Pesa subscribers to transfer money directly into each other's mobile wallets, in what they claim represents the first deal of its kind in Africa. Vodacom described the move as: ‘Another tangible step towards the enhancement of financial inclusion [and] the expansion of the mobile money eco-system in Tanzania.' Meanwhile, Rene Meza, managing director at Vodacom Tanzania added: ‘We expect to launch the service by the end of the year and are currently working on upgrading our M-Pesa platform which will see us invest in excess of TZS150 billion (USD80.8 million) to cater for the expected growth of users.'

Source: Telegeography 26 February 2015