It is now official. One can now comfortably send and receive money directly across networks in a move that is likely the take financial inclusion in the country even higher.
The mobile interoperability between Telkom Kenya and Safaricom PLC has since been rolled out. First, what is interoperability? This is the process of sending money across different money platforms. For instance, sending money from your T-kash account into your M-Pesa account or Airtel and vice versa.
Before the coming into effect of the interoperability, the receiver of the cash from another network would get a voucher code and go to the sender’s network to withdraw the money. This is now something of the past because with interoperability, the cash is deposited into the receivers mobile money account and is reflected in the account balance.
For the transaction to be successful, the Telkom Kenya customers must have an active T-kash account while the Safaricom Customer must have an active M-Pesa account same to one with Airtel Money.
What is more interesting from this partnership between Telkom and Safaricom is affordability. The charges are very affordable, convenient and attractive.
Sending between 50 to 200 shillings from a T-kash account to M-Pesa account is free of charge. The same applies to one sending cash from one T-Kash account to another.
Sending between 201 to 500 shillings from a T-kash account to M-Pesa account costs 10 shillings. The same charge applies when one sends cash to another T-kash customer.
One will be charged 80 shillings for sending between 7,501 and 20,000 shillings from a T-kash account to M-Pesa. The same is charged within the Telkom Kenya network.
What if one sending between 20,001 and 70,000 shillings? Here, the transaction cost is only 100 shillings from a T-kash account to M-Pesa and from a T-kash account to another T-kash account.