In its clearest indication yet — that it is ready to take MTN Mobile Money on — Vodafone Cash waives transaction charges across networks to make payments on the platform come at no extra cost to the subscriber.
By waiving these fees, Vodafone Cash has made it clear to subscribers as well as the other telco-managed mobile money platforms — that transaction charges or fees can be done away with — without the service provider running at a loss.
Vodafone Cash waives transaction charges.
Until the new waiver came into effect, Vodafone Cash subscribers only had a daily limit of GHS100 charge-free fund transfers to other networks. This new development is a good indicator for the future of the mobile payments industry in Ghana as it is reminiscent of the change that Kasapa’s entrance into the mobile telecommunications business in the early 2000s, brought to that sector as a whole.
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Before the entrance of Kasapa, mobile SIM cards in those days cost in excess of a million old cedis (GHS100). Then Kasapa came in with their CDMA phones — which needed no SIM cards — forcing the then OneTouch (Vodafone Ghana), CellTel (later Buzz, then Tigo — now AirtelTigo), and Spacefon (MTN Ghana) to drastically reduce the cost of their network starter packs.
Of course, Kasapa didn’t end up taking over Ghana’s telecommunications industry. However, it caused a lot of good changes to happen within that sector. Vodafone Cash probably wouldn’t overtake MTN MoMo to become the dominant mobile payment platform in Ghana. But we can all testify that just like Kasapa did in the past, Vodafone Cash has taken a step towards making mobile money transaction charges a thing of the past.
Vodafone Cash waives transaction charges and we should all be glad they did.