Spice Money: Industry Monitoring 24 May 2019
- Priyanka Kanodia
- Jun 10, 2019
- 2 min read
Spice Money
Industry News
Safaricom-Vodacom JV to buy rights to M-Pesa from Vodafone
Publication- Telecom Lead
Edition- Online
Date- 24 May, 2019
The 12 million euro or $13.4 million deal will enable Safaricom and Vodacom to make savings in royalties paid to Vodafone and expand the service to new African markets, Reuters reported. “We are taking ownership of M-Pesa, the brand and the intellectual property. Joint ownership between us and Vodacom and we then use that as a platform into running into other markets across the continent,” said Bob Collymore, Safaricom’s CEO. Safaricom, the most profitable company in East Africa, pays 2 percent of its annual M-Pesa revenue to Vodafone. Revenue from M-Pesa stood at 75 billion shillings or $741 million in Safaricom’s financial year to the end of March.
Vodacom, a South African operator which owns 35 percent of Safaricom, pays 5 percent in an intellectual property fee to Vodafone from its M-Pesa business, which is mainly in Tanzania. “More important than the significant savings is about us determining the future, the roadmap of M-Pesa because at the moment the roadmap is determined by Vodafone,” Collymore said. “Given that the bulk of the M-Pesa business is in Africa, between Tanzania and Kenya, it is right for us to be determinants.”
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UPI Or IMPS For An Online Transaction: What Should You Opt?
Publication- Good Returns
Edition- Online
Date- 24 May, 2019
The history of financial transaction dates back to times when individuals making fund transfer had no other option but to visit a bank branch and fill up the requisite form to execute the transaction. But ever since then times have now changed to bring to us a lot more means through the digital or online landscape. There are so many interfaces available today including the likes of UPI, IMPS, Bharat QR, Credit Card, Wallet, Debit Card, NEFT, RTGS that such money transfer or other financial transactions can be done in a nick of time. Now even as you may many a time for random transactions going in for the usual IMPS transaction and may not be versed with the usage of UPI. Here we suggest how UPI or Unified Payments Interface scores over other payment modes:
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