TTCL joins the race amid fierce competition among the communication companies, with reports from the industry indicating that over 25tri/- was transacted last year through the mobile money transfer services.
Speaking to the ‘Daily News’ here yesterday, TTCL Acting Chief Executive Officer (CEO) Waziri Kindamba, said all were set for the new services, hinting that the telecommunications firm was finalising some crucial procedures with regulatory authorities.
“We have already tested the service with ourinternal customers and it has proven tremendous outcomes ... we are determined to enter the market differently,” revealed Mr Kindamba, without specifying the trade name that could be used. The new service could be referred to as TTCL-PESA just like other companies do, but the CEO said the company is working on a unique name to make TTCL unique in the market.
The bank of Tanzania said Mr Kindamba has advised TTCL to form a subsidiary firm that will operate the new service while all other procedures are being finalised by the regulatory bodies, including the Treasury Registrar (TR).
Mobile money services allow users to store funds in a phone account, with majority people snubbing bank accounts although some operators have integrated the users’ bank accounts with their mobile accounts.
So far all mobile money operators in Tanzania are offering similar services that enable users to easily deposit, withdraw, transfer money, settle bills and pay for goods through their phones.
Experience shows that bill settlement has become easy, with users paying electricity bills, water bills, government taxes, road licences, flight tickets and even satellite TV subscriptions through phones.
Introduction of the new services by TTCL brings good news to especially rural dwellers who have limited access to conventional bank services and for years have been yearning for cheaper mobile communication services.
Source: DailyNews
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