In a bid to reach the unbanked population, Rwandatel is in a piloting of launching ‘Mobile Money’ services as a part of easing the way their subscribers do business transaction.
The service dubbed ‘M-Kash is designed to enable one to make a financial transaction using a mobile phone.
“We are planning to launch the best service on the market which will be more convenient, with enough services and other exiting features like saving scheme,” Said Rwandatel’s Chief Commercial Officer, Francis Egbuson.
Adding that the service which will cost Rwf900 million will help reduce people’s time of queuing-up for bill payments as the operator is striving to revolutionise the way payments are done.
Only about 24 percent of the country’s population have access to banking services but slightly over 3 million nationals have access to mobile phones which will help in increasing banked population.
Egbuson also said that they are targeting to launch with a saving scheme service. “We have also applied to do a cross border transactions especially in Uganda,” He added.
The operator is targeting all their subscribers to be subscribed to the service, saying that there will be no charges on subscription.
To deliver the service to the end users, Rwandatel is partnering with the Bank of Kigali (BK) as the receiving bank.
As the operator is trying to transform the way people use their phones, recently they signed a partnership agreement with HEHE Ltd Company to provide Rwandatel subscribers with other mobile solutions.
In the deal, Rwandatel subscribers will be able to play quiz games, be given directions to any place in Kigali chat texts, access news, and student results and data collection.
MTN Rwanda pioneered mobile money services in Rwanda almost a year ago. The company said in August that it had moved over Rwf60 million in ‘Mobile Money’ transfers.