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March 10, 2015updated 04 Apr 2017 4:03pm

Vodafone rolls out money transfer service between Tanzania and Kenya

British mobile group Vodafone has rolled out a new international mobile transfer service called M-Pesa between Tanzania and Kenya.

By Verdict Staff

British mobile group Vodafone has rolled out a new international mobile transfer service called M-Pesa between Tanzania and Kenya.

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.

Vodafone 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."

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