Safaricom To Handle 600 M-PESA Transactions Per Second In Rwanda

In a move aimed at deepening financial inclusion and boosting regional trade, Safaricom has partnered with MTN Rwanda to enable customers to make mobile money transactions between Kenya and Rwanda.

This is with an aim of providing reliable and affordable way for businesses to transact, thereby helping grow the East African Economy.

According to Safaricom director in charge of partnerships, Betty Mwangi, the partnership comes at an opportune time with the introduction of the new M-PESA platform, which enables upto 600 transactions per second.

On the other hand, MTN Business General Manager, Norman Munyampundu noted that the partnership has the potential to expanding financial inclusion, especially with the growing usage of mobile money in Rwanda.

“As a country, we are still finding our path to financial inclusion and I believe that this new partnership will be a powerful driver of economic growth.” He said

To access the service, Safaricom and MTN customers will be required to dial *840# from their handsets and follow prompts and access a Cost Calculator that will show them the equivalent amount to send based on prevailing foreign exchange rates.

Upon sending they will receive two messages to confirm that the transaction has gone through.

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Muhatia
Muhatia is the Managing Editor of Biz News Media Reach him via editor@biznews.co.ke