FEATURED: Airtel Money, MoMo services integrate as eKash is launched

Airtel Money and Mobile Money Rwanda Limited customers are now able to transact with each other seamlessly with their respective wallets, at no additional cost. This follows the launch of a platform dubbed eKash, by RSwitch Ltd in collaboration with Airtel Mobile Commerce Ltd and Mobile Money Rwanda Ltd. The platform was launched in Kigali on Thursday, May 26, to facilitate interoperability between the two mobile operators. To start using the service, each customer is required to accept the terms and conditions of their respective Mobile Money Operator by dialling *182*11# and follow the instructions. To send money to another mobile network operator, the user will dial *182*1*2# and follow the prompts. The new platform was made possible through the integration of both institutions’ platforms under the Rwanda National Digital Payment System Blueprint (RNDPS). RNDPS is an interoperable and instant payment between all financial institutions including commercial banks, mobile network operators, microfinances, SACCOS as well as other FinTech companies. According to Jean Claude Gaga, the Managing Director of Airtel Mobile Commerce Ltd, currently, it will not require any Airtel Money customer to change their phone or sim cards when sending money to any financial institution or mobile operator within the country. He declared that they made enough time to study the service in collaboration with the National Bank of Rwanda, which helped them get connected to RSwitch and agreed on keeping the transaction fee as it was. He also noted that in case of poor service, the customer will have to contact their mobile service provider for help, adding that it will be easy to detect where the problem is between the three involved institutions. The uptake of digital transactions has over the past years been on the increase in Rwanda, and was even given a major boost during the outbreak of Covid-19 at the beginning of 2020, when Rwandans were urged to use cashless means to avoid contagion. Between January and April 2020, funds transferred via mobile money rose by 450 per cent to reach Rwf40 billion (over $42 million), according to data from Rwanda Utilities Regulatory Authority (RURA). According to Gaga, the amount a customer was being charged while sending money to an MTN customer, will be the same amount they will be charged when sending money to an Airtel customer and vice-versa. Jean Claude Gaga, the Managing Director of Airtel Mobile Commerce Ltd, addreses the media during the launch of eKash on May 26. He noted however that every customer, whether Airtel or MTN, should first press *182*11# to access the service. Mathieu Rwiyereka, Acting CEO of RSwitch said the milestone is one of the cases of the interoperability project under the RNDPS, and is in line with the Government’s vision of achieving a cashless economy in Rwanda. He noted that the institution is confident that the service will operate well because it was well thought out and studied; adding that whatever challenges that may arise will be solved. He thanked the Ministry of ICT and Innovation, National Bank of Rwanda (BNR), Rwanda Utilities Regulatory Authority (RURA), and other stakeholders for the continued support to achieve the milestone. John Karamuka, Head of Payment Systems at BNR said that the move will help Rwandans benefit from improved customer convenience, lower transaction costs and increased value from the improved range of products and services through digital payments, by enabling service consumers to transact seamlessly and with ease from anywhere. L-R: Christian Kajeneri Fintech Strategy, Products and Services at Mobile Money, Mathieu Rwiyereka CEO RSwitch, Jean Claude Gaga Managing Director of airtel money during the launch eKash in Kigali on Thursday, May 26. He also noted that the former way where a customer would first withdraw cash from one e-wallet before they could send to another was expensive compared to sending money directly, adding that the new service will help customers save their time which helps them improve their development. Airtel Africa first ventured into the Rwandan Telecom market in 2012. Over the last 10 years, they have invested considerably in the business, rolling out nationwide network coverage, introducing Airtel Money, acquiring and integrating the second Telecom Operator. They also started selling competitively priced 4G internet in December 2021, extending this technology to customers who were hitherto excluded from accessing the fastest mobile internet speed on the market. They did so by revising the pricing by up to 80%, making 4G affordable to any internet customer in Rwanda. Journalists cover the launch of eKash in Kigali on Thursday, May 26.

Events

FEATURED: Airtel Money, MoMo services integrate as eKash is launched