Thursday, June 30, 2022

Tecno to rival M-Pesa with new mobile money service in Kenya

Tecno Mobile is set to start a mobile money service in Kenya in what might lead to direct rivalry with Kenya’s top mobile money service provider M-Pesa.

The intention to launch the service was announced by the firm which is the subsidiary of Transsion Holdings, the Shenzhen, on May 9, 2022.

According to the company, the new mobile wallet service in Kenya will allow its customers to make payments to small businesses and retailers.

“Tecno will be available for download on selected existing device series and will come pre-installed on new Tecno smartphones, including the upcoming CAMON 19 series set to be unveiled in June 2022,” the firm said in a statement. “The wallet has pilot launched in Nigeria in May, and roll-out to Kenya in middle of June. The future launches will include Ghana, Tanzania, Uganda, Code d’Ivoire and Senegal in the second half of 2022.”

The new service will see customers complete payments and other financial functions in Tecno devices. This means that apart from shopping, the wallet will allow users to pay for data, airtime and bills. The service is already integrated in the new devices.

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“Consumers can use the wallet to handle their everyday transactions such as paying for airtime and groceries at the tap of a button, as well as access innovative financial services, all on one super-app,” the company said.

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