Vodafone to launch M-Pesa money transfer service

“In Albania we are convinced that this service will make the everyday activity of our customers easier, considering the extremely favourably tariffs it will be offered at compared to existing services of this kind,” says Vodafone Albania.
TIRANA, Sept. 23 – Already successfully launched in ten emerging economies around the world, mobile giant Vodafone is planning to soon introduce its successful M-Pesa money transfer service. The service most recently introduced in Romania enables subscribers who have access to a mobile phone, but do not have or have only limited access to a bank account, to send and receive money, top-up airtime and make bill payments.
Christopher Blackburn, the commercial operations director at Vodafone Albania, says Albania’s leading mobile operator is ready to launch the service in Albania as soon as the country’s central bank approves its licence.
“We have submitted an application with the Bank of Albania since 15 months and we are still waiting to get the green light for this service which although the first of this kind in Albania, is used by 245 electronic communications operators in 89 countries around the world where they have been granted lincences by regulatory authorities and are already offering the service,” Blackburn told daily Panorama in a recent interview.
Speaking about the benefits of the service, Vodafone Albania’s commercial director says M-Pesa has considerably contributed to the economic development of the countries where it has been made available by increasing access to financial services and reducing informality.
“In Albania we are convinced that this service will make the everyday activity of our customers easier, considering the extremely favourably tariffs it will be offered at compared to existing services of this kind, which means it will have a vast reach and use as has happened in every market where it has been implemented, revolutionizing the way people use their mobile phones.
Vodafone Albania, part of UK-based Vodafone Group, has 45 percent of total active mobile subscribers in Albania and a market share of around 50 percent in terms of income. Vodafone Albania was the first operator to introduce the 3G service offering faster mobile internet access under a 15-year licence after offering 31.4 million euros in a tender in November 2010.
In the M-Pesa service, customers register for the service at an authorised agent, often this is a small mobile phone store or retailer, and then deposit cash in exchange for electronic money which they can send to their family or friends. “Once they have registered, all transactions are completed securely by entering a PIN number and both parties receive an SMS confirming the amount that has been transferred. The recipient, who does not have to use the same network, receives the electronic money in real-time and then redeems it for cash by visiting another agent.”