The currently blazing Telkom Company has forayed to launch a mobile banking and money transfer application on Monday the 12th this month. The company states that its data and voice have gained value and preference in the country and have been the company’s main revenue streams. However, the company is optimistic that in the next few years, it will have expanded its connectivity across the country and improved its competitiveness.
Since its succession from Orange, Telkom has continued to implement significant changes to enhance its competitive advantage. These efforts have been seen since its launch of the 4G network across major cities around the country.
The new mobile money transfer and mobile banking platform deemed “T-Cash” has been launched to complete against M-Pesa, Jambo Pay and Airtel Money. It will enable users to receive and send money from M-Pesa and Airtel money conveniently.
Unlike Orange money that way launched with cash-out and cash-in and bill payments, the T-Cash app is a total upgrade. The platform enables users to pay their bills more appropriately since it includes the pay bills already preinstalled in the application. The user will only select the company and input the amount they need to pay and press send. This way, the application eliminates the tedious process of inputting pay bills and account numbers where one is prone to making mistakes.
What’s more, users can now forget about sending money to the wrong platform while using this platform. When using M-Pesa you input the money and password and press send before you are prompted to confirm the details of the recipient.
They then provide you with a limited frame of 25 seconds to stop the transaction if the details are wrong. To be honest, this process has been confusing for the majority of people. However, with the T-Cash platform, Telkom will confirm the details of the recipient for you before you even input your T-Cash pin which means that you probably will never send money to the wrong person with this platform.
This improved and competitive platform comes handy for Telkom as it tries to rival Safaricom’s dominance in the country. Unlike M-Pesa, this platform can be used across all networks. This interoperability will ensure that the company captures a bigger scope than M-Pesa which is limited to Safaricom subscribers only
With the launch of the new mobile money service, the company says it will be ‘a new, and truly exciting as well as improved platform’ that is disruptive and flexible in all means, particularly suited to the young digitally savvy generation and It will provide unique differentiators, enhanced usability, and value through an open and collaborative approach.
However, Telkom will face the challenge of having to grow a new customer base, including its current data and voice customers that have to rely on other mobile money platforms. As for now, however, we can only wait and see what other surprise Telkom has in store for us…..