MobiKash is counting on a deal signed with PesaPoint Limited, Kenya’s largest independent ATM network, to replicate the success of rivals M-PESA and Airtel Money in providing its customers the critical 24 hour service availability.
The deal will see MobiKash, the network-independent mobile money service provider launched July last year; become the third mobile money provider to be available on ATM.
PesaPoint confirmed it had approved the request from Mobikash and that the service would go live on its ATMs for round the clock card-less withdrawals and other Mobikash activities soon.
M-PESA was the first to tap into PesaPoint’s mobile money ATM withdrawal facility, followed by Airtel Money.
The deal means that MobiKash customers’ 24-hour will have access to their cash round the clock and will also avail a possibility to make direct transfers from users’ bank account to their Mobikash account through a Pesapoint ATM interface.
Duncan Oduor Otieno, MobiKash CEO, said the 24-hour availability of the firm’s service on PesaPoint ATMs will be an important value proposition as the company pursues faster growth.
“MobiKash users want convenience. They do not want to be tied to a particular network and there is need for them to access their cash at all times wherever they are. MobiKash clients would continue to receive money from a wider network of over 32 banks through the deal with PesaPoint,” said Oduor Otieno.
PesaPoint said the MobiKash service will at first be available in about 110 PesaPoint ATMs countrywide, but will later be integrated in the company’s interconnection system which will ensure availability on ATMs belonging to approved partner banks.
MobiKash has so far moved close to Kshs 100 million (US $ 1.19 million) since its launch 9 months ago and continues to target mobile users on the Safaricom, Airtel, Orange and Yu networks in Kenya.
It uses the USSD universal shortcode *365# across all network and a secure system to interface users’ bank accounts and mobile wallets which allows users to withdraw cash from their bank accounts without physically traveling to the bank. The deal with PesaPoint immediately adds over 100 touch points called electronic agents and will give MobiKash a denser countrywide footprint. Ends.