Less hustle in 2nd quarter interest payment – Telcos

Business News of Tuesday, 20 September 2016

Source: citifmonline.com

2016-09-20

Telecom MobileFile photo

Telecom operators have told Citi Business News there have been less challenges with the payment of second quarter interests on mobile money accounts.

The second tranche of interest payments, begun on Sunday, September 18, 2016; a week after the first tranche of payments.

Some customers had expressed varied concerns over the apparent delay in payments for the first quarter. Some telecommunication companies also attributed the challenges to the relative new systems and high numbers involved.

But the Director of Vodafone Cash, Matinson Obeng- Adjei explained to Citi Business News, there have been less challenges this time round.

“The second round of payment has been smoother than the first because that was our first attempt as an industry but I think from then we learned a few things that has made this payment rather better,” he stated. About 500,000 Vodafone customers were expected to receive interest for the second quarter. Mr. Obeng- Adjei further assured all customers will all receive their interest on their mobile money wallet.

“We have started paying our customers from midnight and as at the process is still ongoing. Some customers as at now must have received their interest and some customers are yet to be paid.

At this point we have paid over 60% of the customers,” he said. About 12 million cedis were distributed by the four telecom companies offering mobile financial services for the first and second quarters respectively.

Customers are expected to earn between 1 and 7 percent in interests on their mobile money wallets.

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