Vodafone Qatar to offer world leading mobile remittance service
22 November 2009: Vodafone announced today that by mid-2010 it plans to offer customers in Qatar international and local money transfer services which they can access directly on their mobile.
Customers who register for Vodafone Money Transfer will have their mobile number linked to an electronic money (e-money) account managed by Vodafone, and can use such e-money to buy mobile services, send money abroad, or even make and receive payments using their mobile.
"International money transfer is a financial service in high demand by Qatar's large working population of expatriates," said Director of Marketing Michael Portz. "Vodafone Money Transfer will make it more affordable for guest workers to send money home."
In addition to providing such benefits as liquidity and rapid delivery, Vodafone Money Transfer is "absolutely safe," Portz said. "Money is held on the customer's behalf in a trust, not by Vodafone. And since customers require a PIN number to use the service, using Vodafone Money Transfer is as safe as a debit card with a chip ."
The service is a joint venture innovation project between Vodafone Qatar, the Qatar Foundation and Al Hashemi Group, as well as numerous Qatari financial service providers. Vodafone will be drawing on expertise from existing Vodafone Group money transfer projects, including M-PESA managed by Safaricom Limited in Kenya.
"This new innovation will create jobs across the MENA region as the footprint for the service grows, while elevating Qatar to the status of a global leader in mobile financial services," said Grahame Maher, CEO of Vodafone Qatar. "Qatar has all the right ingredients to create this opportunity, and to replicate its success throughout the region, with Doha serving as a hub."
Vodafone Money Transfer will be available to Vodafone customers using both Freedom and Red. The exact timing and allowable transaction amounts will be subject to decisions by ictQatar and the Qatar Central Bank.