MTN and GT In Mobile Money Transfer Race

MTN and GT-Vodafone are in a race to deploy money transfer and product services to their subscribers.

The products from the two mobile providers if launched will allow its subscribers on their networks to undertake transactions such as forwarding money to individuals, purchase goods and services from merchants that have signed on to the service and pay utility bills.

Vodafone was first to make public its intention to deploy its mobile money transfer solution M-PESA as part of its strategies to dominate the Ghanaian market when it was buying 70 percent stake in Ghana Telecom( GT) in August this year.

One particular product which we will bring to the market is M-PESA, our award winning Mobile money transfer and product payment service which is already operational in Kenya, Tanzania and Afghanistan, an official of Vodafone's press office told CIO Business World.

Although MTN has been on the quiet relating to its mobile money transfer solution; it has been working with its partner ECOBANK to deploy that service to its subscribers. MTN is presently conducting product trials and is due to launch its money transfer product Mobile Money commercially soon.

When MTN launches its Mobile Money, registered subscribers of the service can make transactions such as forwarding money to other individuals on the MTN network, buying MTN airtime for themselves or other MTN subscribers, paying utility bills and paying for goods and services from merchants that have signed up to that service.