Ratio Magazine :: The Inside Track to East Africa’s Economies - Yu Mobile Welcome Move to Introduce Shared Mobile Money Transfer System

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Yu Mobile Welcome Move to Introduce Shared Mobile Money Transfer System

Thursday, 30 June 2011

Nairobi, 29 June 2011 --- YuCash, the mobile money transfer service brand of Essar Telecom Kenya Ltd, has welcomed the recent recommendation by a government taskforce calling on mobile service providers to develop a common system for facilitating mobile money transfers across networks.

A task force set up by the Prime Minister’s office has proposed that that mobile firms should work towards creating a seamless mobile money transfer system regulated by Central Bank of Kenya as a way of increasing the usage of the service. This means that subscribers of any network will be able to send and receive money via their mobile phones across any other network.

Commenting on the proposal, yuMobile Country Manager Madhur Taneja said: “It is our desire to give our subscribers the very best in services and one way of doing that is to ensure that we eliminate any blockages that hinder consumers from making choices that suit their needs. Customers should be able to transfer money across networks just like they are able to make calls and send text messages, and with yuCash, they will enjoy affordable rates and unique features such as being able to transact online when they don’t have their mobile handset at hand. We hope that the CCK and Central Bank Kenya will back the implementation of this useful platform that is long overdue.”

Since its inception, market players have continued to seek opportunities to improve this innovative money transfer service, but the biggest obstacle has been the inability to transfer money across networks.

Recently, the government, through the Office of the Prime Minister, established a taskforce to review and make recommendations on mobile telephony in the country.

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