Jun 21, 2013

M-hela - Cross boarder mobile money transfer

Rapid Communications has partnered with Aftab Currency exchange in the UK to introduce M-hela, a mobile money service that enable Kenyans in Europe to send money to their families in Kenya.  Created for Kenyans abroad and within the country, M-hela provide an easy sending procedure as well as familiar withdrawal means from  M-pesa and Airtel money agents in Kenya.

M-hela is a simple and a real-time service. Kenyans in the diaspora deposit money with any Aftab currency exchange agents who are located all over the UK and Europe by filling up general required details such as name and phone number of the recipients and send money immediately. On the other hand the recipient receives cash on their M-PESA or Airtel account. 

M-hela charges 2.8% of the transaction amount with the minimum transfer fee of £3 to transfer up to £103 and  2.9%  of the transaction to transfer £103 To £10,000. The receiver cost is normal M-PESA and Airtel withdrawal charges and the cash is in Kenya shillings. The recipients receive an M-PESA /Airtel  notification on their phone and a customer care follow up call. Normal mobile money charges apply for withdrawing

Kenyans abroad are engaging in a lot of transactions back home. Statistics by the Central Bank of Kenya show that the remittance inflow in March 2013 was USD 1.021 million (or 1.0 percent) higher than the February 2013 inflow of USD 102.4 million. Europe accounted for 28% of the March remittances.