David Mugabe
2 July 2009
Kampala — ZAIN has launched ZAP, a mobile money transfer service that is expected to further transform the financial services sector.
ZAP enables customers to have their SIM cards automatically upgraded to begin mobile commerce as well as use their cell phones to pay utility bills like water and electricity.
"The mobile money facility will enable people use their phones as mobile wallets. There are over 100 million people in the three East African countries," Yesse Oenga, the Zain Uganda managing director, said at the ZAP launch at the Kampala Serena Hotel. Over one million people's SIM cards have already been updated.
The mobile money service is cheap with sh250 as the minimum fee of a short message to send sh5,000. The maximum amount a person can send is sh1m.
Zain is partnering with Standard Chartered Bank and Citibank to provide the service. There are over 600 ZAP agents across the country.
The service does not require paper work.
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