Zamtel set to launch mobile money in Zambia

Zambia operator Zamtel plans to launch its mobile money transaction platform later in 2014, as the Bank of Zambia (BoZ) scrutinises its application. BoZ assistant director for payment systems Lazarous Kamanga said whereas the country currently had just two million activate bank accounts, active mobile money accounts had hit over 3.4 million, after growth last year of 144 percent. He said as part of the testing process, Zamtel had been allowed to pilot the proposed mobile money service among its workers, the Post of Zambia reported. Kamanga said the apex bank is considering a Zamtel application and they are confident that once they give them the authority, most of their customers who are in remote areas will be able to do financial transactions through Zamtel mobile money.

SOURCE  : telecompaper