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Tunisie Telecom launches money transfer service

Tunisie Telecom launches money transfer service

Tunisie Telecom is launching a new money transfer service which it says will help to get more Tunisians to use digital technologies. The operator says the development ushers in a new era following its introduction of services focused on phone recharging and bill payment via mobile nearly ten years ago.

“Tunisie Telecom is mobilizing again by acting in coordination with other players in the telecommunications and finance sectors to extend mobile payment to all citizens by launching its new service called TelecoMoney.” said the telco in a statement.

The mobile operator adds that TelecoMoney will allow transfers by users even if one of them is a subscriber with a competing operator.

“Tunisians can thus transfer money from mobile to mobile immediately and in a simple and secure way. Mobile payments via TelecoMoney will be provided in a first phase through TelecoMoney VCN cards and TelecoMoney EMV by Tunisie Telecom and La Poste Tunisienne.”, details Tunisie Telecom on the rollout of TelecoMoney which got underway yesterday.

The telco adds that the cards will be marketed at Tunisie Telecom points of sale over the the next few months going forward. It also says the second phase of TelecoMoney which will focus on the enrichment of its service offering through partnerships that its aims to secure with financial institutions in the country will launch over the next few months.

Mobile money certification enters the market

The launch of TelecoMoney takes place less than a week after GSMA - a telecommunications industry body of which Tunisie Telecom is a full member launched GSMA Mobile Money Certification during the Mobile 360 West Africa event. The GMSA says the scheme is designed to help mobile money providers to offer safer, more transparent and more resilient financial services to millions of mobile money users around the world.

John Giusti, Chief Regulatory Officer at GSMA says the certification which relies on an independent assessment (contracted to consulting firm Alliances Management) of a mobile money provider's ability to deliver secure and reliable services, to protect the rights of consumers and to combat money laundering and terrorism financing is also designed with the enhancement of consumer trust in mind.

“The GSMA Mobile Money Certification is a consumer-focused initiative, aimed at giving customers confidence that a provider has taken steps to ensure their funds are in safe hands, their rights are protected and they can expect a high level of customer service. With over 690 million accounts globally, the mobile money industry is having a clear impact on the global effort to expand financial inclusion, providing access to life-enhancing financial services and serving as a gateway to the digital economy.”

The GSMA says it conducted a three year consultative process working with providers in Africa, Asia and Latin America to understand the challenges of their business and assemble best practices from these markets. The industry body also revealed that certification is open to all mobile money providers, whether they are a mobile operator, a bank or other type of payment service provider. The first services to be certified are Orange Côte d'Ivoire, Safaricom (Kenya), Telenor Microfinance Bank Ltd. (Easypaisa Pakistan), Tigo Tanzania (Millicom Group) and Vodacom Tanzania covering 98 million accounts in four markets according to the organisation.

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