Monday, 22 December 2008
MapSwitch Uganda has partnered with Uganda Telecom (UTL) to launch a mobile money transfer (MMT) service come 2009. The Mapswitch product offering uses multiple user platforms such as "ATMs, mobile phones and point-of-sale terminals".
The new service hopes to target an estimated 95% of Uganda's over 30 million population that is un-banked. This service follows hot on the heels of Zain and MTN Uganda which reported their interest in fully launching mobile wallet services in 2009.
The emergence of MMT as a value added service on the East African scene as created a convergence of services, brands and technologies that should hopefully enhance the delivery of financial services in an unprecedented way. The grey areas in between financial and telecoms regulation will hopefully also lead to the development of soft law that will govern MMT.