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Yo! Is Mobile Money Version of Yahoo! – Ugandan Leading MM Aggregator

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We actually thought that this was a Yahoo! division. No, it is purely an Ugandan payment company. It plays in the domain of mobile money.

 

Yo! Payments is a mobile payments aggregation service. Yo! Payments enables businesses to conveniently receive payments from their customers via mobile money, as well as make mobile money payments to any  mobile money account holder.

 

Value Offered
• Convenient Handling of Large Number of Inbound Payments
• Convenient Handling of Large Number of Outbound Payments
• Secure Web-Based Access to Account
• Multiple Security Features Such as Sub- Accounts with Limited Access, Withdrawal

• Freely available API for Website / SMS integration

• Designed to interconnect Multiple Mobile Money Providers. Enables businesses to receive payments from multiple mobile money platforms through a uniform interface.
• Multi-Currency. Yo! Payments is built to function with multiple currencies, enabling businesses to receive payments from foreign customers.

 

Features
• Send and Receive Mobile Money
• Multi-Currency Support
• Internal Transfers
• API Integration
• Email Authorization for Withdrawals
• Sub-Accounts
• Withdrawal Limits
• Access Control and Audit Trail

Mobility and Telecoms: International Alliances and Deals – MM Report

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This is a fairly comprehensive deals in the telecoms and mobility industry in recent months.

 

Zimbabwe operator NetOne is deploying digital security fi rm Gemalto’s LinqUs solution for Mobile Money Transfer. The off er, being marketed as the OneWallet service, works on 100% of the handsets and will enable all NetOne subscribers to perform secure and convenient money transfer using their mobile phone. Subscribers can make secure and easy peer-to-peer money transfers, pay every-day bills and top up their prepaid phone cards. NetOne’s customers can have their salaries paid directly onto their phones – a feature that greatly empowers the unbanked with a secure and convenient digital wallet solution.

 

NetOne also intends to work with the Government of Zimbabwe and Pension Fund schemes to allow the OneWallet to be used for pension payments and thus remove the need for traveling long distances for purposes of collecting pension payments. Gemalto conducts Mobile Money events in countries such as Ghana.

 

Bangalore-based value-added services provider OnMobile has announced a partnership with Starfi sh Mobile, a leading content aggregator, to off er ring back tones (RBT) and interactive voice response (IVR) to mobile subscribers in Africa.

 

Under the agreement, Starfi sh Mobile’s content would be deployed on OnMobile’s RBT & IVR technology platform, enabling telecom operators in the African continent to off er innovative music services to their subscribers, the company said in a statement today.

 

Starfi sh Mobile International has operations in 21 countries in Africa, and has announced relationships with operators like Vodacom, MTN, Tigo, Zain (now Airtel Africa), Qtel, and Warid. It has partnerships with over 65 diff erent content suppliers, covering Text based Information on Demand, Wallpapers, Ring Tones, Games and Applications, and Video.

 

Starfi sh also has partnerships with the likes of the BBC and German media company Deutsche Welle. The OnMobile partnership allows Starfi sh to leverage its relationships with content partners and telecom operators to off er RBT and IVR services. In Africa, OnMobile has deployments in Tanzania and Egypt.
Deutsche Welle is now off ering a new text messaging (SMS) news service for its listeners and users in the Republic of Tanzania. The initial launch will focus on text-based services in Kiswahili covering news from Africa and around the world as well as sports-related services. In order to disseminate content to the widest possible audience, multiple language services and products will follow the fi rst phase of launch. Deutsche Welle’s Kiswahili service is among the most popular radio programs in

 

Tanzania. Around 70 percent of Tanzanians are familiar with Deutsche Welle and 33 percent are frequent listeners of the Kiswahili program. Deutsche Welle has appointed Starfi sh Mobile East Africa Limited as its technology provider in Tanzania, where the broadcaster will have the opportunity to deploy mobile services in the Kiswahili language to more than 19 million subscribers from the Vodacom, Tigo and Airtel mobile networks.
With a current audience reach of nearly 90 million around the globe, Deutsche Welle is aiming to widen its reach in countries like Tanzania, where Web penetration is low. By making news services available through mobile technology, subscribers will be able to access news updates. Deutsche Welle viewers and listeners also have the opportunity to view and listen to television and radio programming via mobile.

 

“To some extent, mobile phones have succeeded in an area where the Web has struggled,” according to Naser Shrouf, Deutsche Welle’s Head of Sales and Distribution Africa and Middle East. “Mobile communication has made it possible, both in aff ordability and accessibility, for people who are in the most remote areas to communicate not only with family, friends and colleagues, but also to be a ‘voice’ in current events by interacting in polling and comment activities via SMS,” according to Reshma Bharmal-Shariff , Managing Director of Starfi sh Mobile East Africa.

 

Alcatel-Lucent has its contract renewed with Etisalat Nigeria.

 

In other deals, Bangalore-headquartered Subex has been chosen for a $12 million licence contract by a mobile group operating in Europe and Africa to implement its Revenue Operations Center (ROC) platform for fraud management and revenue assurance. ROC fraud management is built to help CSPs (Communication Service Providers) move toward fraud prevention by eliminating known frauds, reducing freerun time, augmenting internal controls and continuous fraud management process improvement. ROC revenue assurance also assists an operator with its investigation, diagnosis and recovery of these revenues.

 

Sources: Tekedia,  Mobile Monday, ITU

 

 

Mobile Money Transaction Cost in Uganda – Up To 10%

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African regulators must step up and be ahead of the mobile money players. The transaction cost is really high. Some people that signed for Nigeria are already watching that cost.

 

The plot above obtained from Equity Bank Uganda shows that customers that engage in lower transactions can spend more than 10% on fees for mobile money. As the value of the transaction increases, the costs drop.

 

Nigerian authorities must stay ahead of these costs and not be reactive. We cannot afford a repeat of the golden days of MTN where they cleaned the people with fees. We also have to look at encouraging group transaction, if permissible,  as volume reduces  costs.

Uganda in The Age of Mobile Money – Equity Bank Report

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Courtesy of a report, done by Equity Bank, made available to Tekedia , we are happy to provide where Uganda stands today:

 

  • Three telecoms are engaged in MM services in Uganda since Q1 2009
  • Approx. 1.5Mn subscribers since inception with > 1000 transaction points countrywide
  • Ugx. 3Bn transferred per month

 

Market status

  • Population of 33M; 9M registered mobile subscribers – 27%
  1. Banking penetration (5M bank account holders) – 15%
  • Bankable population: 18M
  • Young Population; 80% employed in non-formal sector
  • Purchasing Parity – $1,300 (Est)
  • 90% of existing money transfer agent revenues from international transfer

services; local transfers are hugely untapped

  • 3 existing Mobile Money products not providing full banking services
  • No inclusion of MM subscribers to the regulated financial sector

 

Market Requirement

  • Mobile Money Agent outlets do not have sufficient float – multiple visits

required to replenish

  • Higher thresholds– Ugx 1,000,000 too low for businesses
  • Need lower cost micro payment – existing money transfer services too costly
  • Combination of benefits of mobile money with those of normal account (egcash through ATM/branches, transaction history)

 

 

Current challenges of m-money

  • Financial dis-intermediation is occurring
  • Responsibility of reconciliation abdicated by e-money issuers
  • Transaction costs are too high for majority of transactions (Rule of 2%)
  • Closed loops hold back overall growth
  • KYC requirements are restrictive at levels of low risk

Creating an Enabling Ecosystem for Developers and Industry Leaders – Ugandan Geeks Have Answers

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Thanks to Nokia for making this possible. It was in Protea Hotel, on Monday 9th. We wanted to find out one thing:   How Do We Create an Enabling Ecosystem for Developers and Industry Leaders?

It began with Makerere University CIT students who presented some great products they have made. They have built  mobile Java applications programming for the Ovi store.

In our different styles and ways, it was very clear that Ugandans are creative. Daily, we are noticing that our individuality and collectivity can be useful is making Kampala the best place to make great apps. We all have the tools and we want to  rule the world.

The variety of ways we link to others through mobile phone applications is increasing almost at an exponential rate! Who can supply us with companionship, differing viewpoints, validation, camaraderie, information, news about events, direction, how to move in to where we want to go, physically, spiritually, how to stay out of trouble, how to take good decisions, how find what we are looking for, guidance on how to spend our money more wisely, how to pay for things more conveniently. The ringtone just downloaded has the refrain: Did you ever try to change your life? Hey, where do I go to find an answer to a question like that? Is the icon for such a service already available on my Nokia E7, Huawei Ideos, iPhone or iPad? If the answer is no then, hey, why not create a new mobile app for me and you; you never know; might beat the hell out of Angry Birds?

People, it is Kampala and we have answers. The best way to create enabling environment for developers and industry leaders is to make awesome apps. When you make good apps, the developer is happy and the funders are enabled, also happily. That is the ecosystem – great apps. Forget about the government problems, just focus on the apps. If they do not buy in Uganda, the Americans will buy.

What do you see? The iPad or the app that is not in it. We see that app that is not there. We invite you all to Kampala and waiting for your investment.