)
Bharti Airtel today said it has introduced a cross-network money transfer service in Tanzania by partnering with mobile operator Tigo.
"The service will be available for Airtel Tanzania and Tigo customers, enabling them to experience a secure, fast and easy mode of money-transfer services between the companies' mobile money wallets," the company said in a statement.
The announcement follows an agreement last month to adopt such interoperability by telcos beginning July 2014. It is aimed at helping meet the challenges associated with financial exclusion in Tanzania.
"This partnership with Tigo is a world first service allowing customers to transact directly to their e-wallet or respective recipient's e-wallet. With off-net charges removed, it means lower cost and less hassle in withdrawing cash, therefore making the service more relevant to our customers' needs," Airtel Tanzania Managing Director Sunil Colaso said.
Airtel said the introduction of the service is poised to help deepening of financial inclusion in that country, which stood at 22% in 2013, according to the Bank of Tanzania.
Late last year, Tanzania launched a national financial inclusion framework to focus on priorities such as payment platforms, infrastructure and consumer protection, with an overall goal of giving half of Tanzania's population access to formal financial services by 2016.
