Tanzania: Vodacom and Tigo Partner in Money Transfers
Vodacom and Tigo will allow their customers to exchange money directly.A partnership agreement has been signed by Vodacom and Tigo to allow their customers to exchange money directly between their mobile phone accounts (e-wallets).
The new partners issued a joint press release, explaining that "under the pact four million Tigo-Pesa users can transact directly with seven million M-Pesa clients, in a move seen as another tangible step towards broader financial inclusion and expansion of mobile money ecosystem in Tanzania".
The exchange protocol will be based on the International Finance Corporation (IFC) mobile-wallet-to-wallet standards, supported by the Groupe Speciale Mobile Association (GSMA), which has facilitated interoperability discussions between mobile operators in Tanzania.
A total of 12 million people will be able to exchange money securely using their e-wallets across country: "If you are an M-Pesa farmer in Kagera wanting to buy tools from Tigo-Pesa customer in Dar es Salaam, this new service will be an ideal payment mechanism", declared Tigo General Manager Diego Gutierrez, proud of calling this network “Africa's first universal mobile money exchange system.”
"This is a great evolution of the mobile money service in Tanzania”, declared Vodacom Tanzania Managing Director Rene Meza.