Technology

Zamtel to launch mobile money

ZAMTEL chief executive officer Mupanga Mwanakatwe with Nippon Electric Company president Dr Endo Nobuhiro, in Lusaka recently. - Picture by ROYD SIBAJENE/ZANIS.

By NKOLE MULAMBIA
ZAMTEL says it will soon roll out a mobile money facility after the approval of a licence by Bank of Zambia (BoZ).
Currently, there are only two mobile service providers that have already introduced the facility on the local market, namely MTN Zambia and Airtel Zambia.
Company chief executive officer Mupanga Mwanakatwe said the mobile money service is likely to be introduced before the end of this year.
“Yes, mobile money has been awarded by the central bank and the contract has been given to a successful bidder. We are just waiting for them to be on the ground as they have to buy hardware and start integrating with our billing system.
“So that is going to be happening and so we expect to launch mobile money before the end of the year,” Mr Mwanakatwe said in an interview in Lusaka last week.
He is hopeful that the1.4 million subscribers who are currently on the network will use the service once it is launched as it is more efficient and secure.
Mobile payment, also referred to as mobile money, mobile money transfer, and mobile wallet, is a payment service operated under financial regulations and performed from or via a mobile device.
A consumer can use a mobile phone to pay for a wide range of services and digital or hard goods instead of paying with cash, a cheque, or credit cards.
Meanwhile, the firm intends to roll out the fourth Generation (4G) network next year following the successful trials.
Mr Mwanakatwe said currently the firm is pre-testing the 4G network in readiness for commercial roll-out.
4G  is the fourth generation of mobile telecommunications technology, succeeding  third generation (3G) and preceding  fifth 5Generation (5G). A 4G system, in addition to the usual voice and other services of 3G, provides mobile ultra-broadband Internet access, for example to laptops with USB wireless modems, to smartphones, and to other mobile devices.

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