Mobile Money Transfer Services: Tanzania

Mobile money began in Kenya since 2007, it was launched by the safaricom company as the great mobile network at that time Kenyan were used to the microfinance-loan payment manually this enhanced cost to the customer as well as customer cost of handling cash this was increased the interest rate through this hindrance it force the safaricom to establish the mobile money application called M-pesa so as to solve all problem that brought cost to customers, most of people adopt it so during the m-money application increase their uses in Kenya. In 2008 Vodacom M-pesa from Tanzania adopt the application to their customer to reduce the cost, in Tanzania the m-money assisted customers as payment method as well as bought and sold of services/product, through great achievement the other service provider began imitate like Airtel and tigo so the m-money become knowingly all over Tanzania up to this time the Vodacom leading market for 53% of the mobile market, tigo pesa 18% and Airtel money have 13% of the market share. In 2009 the MTN began to spread their service through mobile while previously they done transaction manually like payment, bought and sold of services, once the MTN provide the m-money services only 32% of customer were aware of the services initiated while others were unaware so the service been spread and the number of customer were increased due the advertisement on benefit of the m-money, this way it boost the usage of m-money at the result their usage become increased all over East Africa.