Warid Congo launches new mobile payment service in the Republic of Congo

Feb 20, 2012

Mobile operator Warid Congo announced on Wednesday February 15th the launch of Warid Mobicash mobile banking services in Congo, in partnership with Mobicash.

Mobile operator Warid Congo announced on Wednesday February 15th the launch of Warid Mobicash mobile banking services in Congo, in partnership with Mobicash.

The new product offers various services such as money transfer, airtime top-up, bill payments and merchant payments.

Warid MobiCash customers can make secure cashless transactions no matter what phone model or network operator they use, thanks to multi-factor authentication mechanisms technology.

Mr Patrick Gordon, Group Chief Executive Officer at Mobicash, said: "MobiCash-Warid partnership is committed to providing innovative banking services in Congo that provide convenience and easy access to banking services (…) our partnership aims at extending financial services to all Congolese, thus deepening the financial sector."

There are other mobile banking services in Congo, such as Pata Express, which started offering mobile transfer and payment services in Congo-Brazaville in 2010, in partnership with banking and microfinance organisations.

Mobile operator MTN, in partnership with Ecobank, also launched its portfolio of MTN-Money services in November 2011.

These new services are considered to be key to raising the level of access to banking services in the country, especially given the high penetration of mobile phones in Congo.

According to a study from the Bank of Central African States, the average banking rate in the countries of the Economic and Monetary Community of Central Africa is only seven percent and the bank hopes to raise this to 20 percent within the next five years with the help of
mobile banking, Ecofin news agency reports.

The Congolese mobile phone market counts four mobile operators: MTN, Airtel, Warid and Azur1. They had a total of 3.7 million users at the end of 2011, from a population off four million, according to a recent report from the mobile phone observatory.ADNFCR-2976-ID-801297508-ADNFCR