Following the successful launch of MTN’s mobile money transfer system, “MobileMoney”, in Uganda, the company is piloting a similar initiative in South Africa.
The pilot will see MTN customers being able to transfer money from selected MTN outlets across the country. The pilot is designed as a market research initiative, to test the acceptance of these mobile services in the South African mobile market.
Says Tim Lowry, MD of MTN SA: “The development of this Money Transfer service is a joint venture between Standard Bank and MTN Banking, offering a safe and secure way for customers to send money home. The service will allow money to be sent directly to the recipient, removing the hassle and cost of locating a traditional ‘cash-out’ location such as a bank’s branch,”
“Convenience for our customers has been the motivating factor in developing this service, and we have identified the stores most frequented by our customers, for the implementation of this service. This has enabled MTN to provide the service in areas typically under-serviced by the banks.”
A successful pilot programme could see the service fully launched in South Africa during 2009. The service is sms-based, and will see customers being able to receive money from designated outlets by producing a sms code on their handset after a transfer has been completed.