British mobile group Vodafone has rolled out a new international mobile transfer service called M-Pesa between Tanzania and Kenya.
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With the new service, the M-Pesa customers from the two countries can transfer money using mobile phones in a simple, safe and secure way through an established, combined network of 180,000 agents.
The service will benefit customers from the low-cost of M-Pesa against existing international remittance services between the two countries.
International money transfer via traditional channels may be up to 31% of the transaction, said Vodafone.
According to Vodafone, transfer of $50 via M-Pesa across the Tanzania-Kenya border would incur a fee around 1% of the transaction plus a foreign exchange fee.
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By GlobalDataVodafone director of mobile money Michael Joseph said: "With a substantial unbanked population transacting mainly in cash, the Tanzania-Kenya corridor represents a significant opportunity for M-Pesa to give people and companies an accessible, low-cost alternative to traditional international remittances."
