Uganda will pay with SMS

[img_assist|nid=10099|title=|desc=|link=none|align=left|width=67|height=100]Mobile operator of Uganda, MTN, has announced the coming launch of the first mobile phone money transfer service in the country. The operator has already got the license for conducting of the financial transactions. The mobile operator has approached financial regulators for a license to begin the operations. 

The new service will function as follows: the sender will buy the e-currency from the nearest agent and load it in his or her account, after he/she will send an SMS message to the recipient where one can find the code a and the message to get the money from one of the closest agent service centers.  

MTN is confident that the service will be a success. The brilliant example of such success is the m-payment operator M-Pesa in Kenya launched a year before. Today M-Pesa is one of the most popular and demanded services in Kenya. The financial analysts are also sure in the success as mobile transfers will cost cheaper than the bank ones and the poor population of Uganda can benefit from it. The approximate date of launch is the first week of October 2008.