Safaricom and Telkom Kenya mobile money users will from October 4, 2018, be able to send money effortlessly across the two networks after the telcos announced the launch of inter-money operability between the firms on Monday.
The initiative will now see T-Kash users send and receive money from M-Pesa directly into their mobile money accounts as opposed to the previous process where consumers had to use a USSD voucher service to conduct transactions.
The USSD voucher service was not well received by consumers as it restricted dealings between subscribers of the two mobile service providers. The service also had a 7 day deadline upon which customers were required to withdraw received money before the time limit elapsed. Failure to do so would lead to the expiration of the vouchers and loss of money in the process.
The mobile service providers confirmed the proceedings in a notice published in local dailies on Tuesday.
“The customer can make a withdrawal from their respective network agents. They will not be pressured to withdraw the money within 7 days,” the statement reads.
Airtel money is also part of the initiative that first began in in April 2018 after Safaricom and Airtel completed a two month internal preliminary test phase to integrate their mobile money wallets. The initiative will be finalized once Telkom and Airtel put pen to paper on some necessary contractual agreements.
The only requirement that consumers have to adhere to in regards to the new deal is that they have to be registered for either T-Kash, Airtel Money or M-Pesa.
“Customers who are not registered on any mobile money platform will continue to receive voucher codes,” the statement adds.
There will be no change in the charges the telcos bill consumers when sending money to other networks.