Telkom Kenya yesterday launched T-kash a mobile money platform. The new service will enable its subscribers to withdraw cash from an agent, buy goods and services as well as transfer money to bank accounts and between T-Kash wallets.
T-kash unlike other mobile money platforms will work via a one time eight digit code that enables one to withdraw cash as well as buy goods and services. The T-kash code is valid for 10 minutes and is generated free-of-charge upon initiating the withdrawal transaction. This is what is presented to an agent in exchange for cash or keyed into the ATM. This eliminates need for an agent number for withdrawal or till number to buy goods and services thus simplifying the process and cutting down the time spent executing transactions.
Sending money to the wrong person or till number has been a challenge when using other mobile money platforms. However, T-kash comes with in-built security features that allow subscribers sending money to verify the recipient’s details before inputting the pin to avoid erroneous transactions. Agents can also perform deposit reversals within 10 minutes of the transaction. The T-kash code generated when making a withdrawal also significantly reduces chances for erroneous transactions..
Users of the service will be able to save up to five contacts of individuals, service providers and bank accounts that they frequently transact with on the platform. This will bring convenience in that one does not have to always key in their details. Another plus about T-kash is that a subscriber can be able to confirm the cost of the transaction before inputting their PIN.
Telkom Kenya customers can sign up for the service at authorized agents after which they can access the service menus. So far Telkom has signed up 20,000 agents to facilitate transactions of its subscribers.