Based on MoreMagic Solutions MWallet platform, the system allows Sierra Leone-based Splash customers who do not have a bank account to send money using only their mobile phone. Customers can buy SplashCash at a Splash agent location and send it by SMS to any Zain or Africell mobile phone. The recipient will be able to exchange the SplashCash for cash at any agent location.
Active in over 50 countries, MoreMagic Solutions offers transaction platforms for mobile operators, financial institutions, content providers, and distributors, enabling consumers to purchase goods and services using a mobile phone, POS or the internet.
Editors notes: It is a well-known fact that mobile transactions have become a successful service in regions with poor financial infrastructure (the M-Pesa story stands as proof). This may encourage new players to try and take the stage by introducing new mobile phone-enabled payment systems on the African market, but some barriers (such as the lack of customer awareness of the benefits such services offer) must still be addressed.
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