Warid Telecom Uganda has launched its mobile money services. The mobile money landscape in Uganda had previously been dominated by MTN’s MobileMoney with players like Uganda Telecom’s M-Sente and Airtel’s Money (Formerly Zap) playing catchup. The new mobile money services from Warid is called Warid Pesa offering users a chance to convert real money into electronic format and vice-versa.
Some of the services you will get through Warid Pesa are;
- Deposit cash and withdraw cash from any Warid Pesa outlet
- Send e-money to any mobile customer in Uganda who can exchange the Warid Pesa for cash
- Store and save Warid Pesa in your registered Warid Pesa electronic wallet.
- Buy Warid Prepaid airtime from your Warid Pesa, using your mobile phone
- No need for a bank account
- No joining fee
- No monthly charges
- No minimum balance
- Fast and easy to use
- Pay-as-you-use
Uganda’s most successful mobile money deployment, MTN Mobile Money, has a clientele base of just over 1 million registered customers (out of 10 million mobile subscribers) and a network of over 1,600 agents. The interesting bit of mobile money in Uganda is that it is mostly used by the banked population (72% of users are banked).
It would be interesting to see how Warid Pesa handles the competition in the market.
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