Mobile phone users in Kenya are expected to start enjoying cross-network money transfers within two months, the Information ministry has said.
Airtel and Safaricom have begun trialing mobile money interoperability among employees.
The month-long tests are expected to iron out potential hiccups and identify loopholes in the system.
Central Bank of Kenya (CBK) has backed mobile money interoperability that is under trial, which when fully rolled out would allow sending of money seamlessly across networks.
Governor Patrick Njoroge said on Tuesday the regulators are keen to mitigate any risks.
“We want to be sure that this works, (and) that the risks are mitigated. At the end of the day the objective is to make sure that the customer gets the most benefit,” said Dr Njoroge.
Mobile phone users in Kenya are expected to start enjoying cross-network money transfers within two months, the Information ministry has said. Airtel and Safaricom #ticker:SCOM have begun trialing mobile money interoperability among employees.
The month-long tests are expected to iron out potential hiccups and identify loopholes in the system.
“It will go to the public hopefully in March once there is regulatory approval and they’ve tested the security,” said Information Cabinet secretary Joe Mucheru said earlier.
For instance, an M-Pesa customer will be able to send money, which will be reflected in real time in the recipient’s Airtel Money account.
This will be a change from the current situation where a text message alerts the recipient of the money to collect cash from an agent registered with the sender’s network.
Telecom firms have been negotiating this interoperability for almost a year.
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