[Kenya] Telkom unveils its mobile money platform
Telkom has launched T-kash, a simple, mobile money platform on which subscribers use a one-time eight-digit code to withdraw cash from an agent or ATM as well as to buy goods and services.
The T-kash code, which is valid for 10 minutes, is generated free-of-charge upon initiating the withdrawal transaction, which is presented to any agent in exchange for cash, or keyed into the ATM.
This eliminates need for an agent number for withdrawal or till number to buy goods and services thus simplifying the process and cutting down the time spent executing transactions.
Speaking during the official launch of T-kash, Telkom CEO Aldo Mareuse says that Telkom has already signed up 20,000 agents across the country to facilitate transactions.
“With this service, we are offering a viable alternative mobile money service to our customers. Value, convenience and security as well as reliability are at the core of our proposition. This is what our customers are asking for in a mobile money service. Consistently innovating to meet our customers’ dynamic needs is part of our DNA at Telkom,” Mr Mareuse adds.
Existing Telkom subscribers can sign up for T-kash after registration at an authorised agent, upon which the service menus will be shared. The T-kash menu can be accessed through USSD *160# and the SIM tool kit.
In order to facilitate transactions, T-kash users can save up to five contacts of individuals, billers and bank accounts that they frequently transact with, within the platform.
They can also invite other Telkom subscribers to sign up; besides buying airtime and Internet bundles. It is also possible to transfer money to bank accounts and between T-kash wallets.
The Telkom CEO added: “Ultimately, we want to deliver real value. The T-kash system is based on more advanced technology that is not only simple but also more flexible and secure”.
T-kash has an in-built security features that allow subscribers sending money to verify the recipient’s details before inputting the pin to avoid erroneous transactions. Agents can also perform deposit reversals within 10 minutes of the transaction.
Using the T-kash code significantly reduces chances for erroneous transaction such as sending money to wrong tills, when carrying out a purchase. Moreover, a subscriber is able to confirm the cost of transaction before inputting their PIN.
With the launch of T-kash, customers will receive a 25% bonus upon purchase of airtime. T-kash customers will also get double entries upon the same airtime purchase; entries to the current consumer promotion being run by Telkom, dubbed Form ni 50.