Firm bids for mo­bile money li­cence

Sunday Express - - BUSINESS JOURNAL -

AJOINT ven­ture lo­cal com­pany, Smar­tel Money Lim­ited, has ap­plied for a li­cence to pro­vide mo­bile money pay­ment ser­vices with the Cen­tral Bank of Le­sotho (CBL).

Smar­tel Money Lim­ited Man­ag­ing Di­rec­tor, Nchai Nchai, re­cently told the Busi­ness Jour­nal that the com­pany was reg­is­tered last year and seeks to pro­vide mo­bile money pay­ment, sav­ings, credit and trans­fer ser­vices.

Mr Nchai said if the CBL were to grant them an op­er­at­ing li­cence, their prod­ucts would be avail­able on a mo­bile app, mo­bile por­tal, web­site, and SMS dialling re­gard­less of the net­work provider.

He said the Maseru in­dus­trial area-based firm had al­ready been given a green light by the Le­sotho Com­mu­ni­ca­tions Au­thor­ity which reg­u­lates in­for­ma­tion tech­nol­ogy ser­vices.

“When you look at the in­ter­net bank­ing ser­vices avail­able at the mo­ment, it is very ex­pen­sive to just log in and check one’s bal­ance,” said Mr Nchai.

“Also, most of the mo­bile money ser­vices are not user friendly. So our aim is to sim­plify life for our clients with dif­fer­ent prod­ucts.

“We aim to pro­vide our ser­vices to in­di­vid­u­als, in­sti­tu­tions, or­gan­i­sa­tions, multi-in­dus­try sec­tors and gov­ern­ments with a cut­ting edge, fresh and in­no­va­tive fi­nan­cial management sys­tem in this ever chang­ing world.”

Among the ser­vices they in­tend to pro­vide are My Wal­let, for money trans­fers be­tween in- di­vid­u­als or cus­tomers to busi­nesses. An­other, called En­ter­prise Re­source Plan­ning (ERP) caters for busi­nesses that trans­act large vol­umes of cash.

The Smar­tel Money Point of Sale sys­tem would be op­er­ated on a desk­top or lap­top com­puter.

He said their tar­get cus­tomers would con­sist of banked and un­banked peo­ple and so­ci­eties, the in­sur­ance and re­tail sec­tors as well as util­ity ser­vices providers.

For its part, the CBL said it was still re­view­ing Smar­tel Money Lim­ited’s li­cense ap­pli­ca­tion.

“Kindly be in­formed that the CBL is aware that Smar­tel has ap­plied for a li­cense to is­sue mo­bile money, and their ap­pli­ca­tion is still under con­sid­er­a­tion,” said the CBL’s Pub­lic Re­la­tions Man­ager Ephraim More­mo­holo.

CBl pub­lic re­la­tions Man­ager ephraim More­mo­holo.

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