Warid Telecom Launches Mobile Money Services in Uganda
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.