Mobile payment provider Splash Mobile Money and mobile transactions provider MoreMagic Solutions have launched a mobile money transfer service in Sierra Leone.
Customers can use the service by visiting a Splash agent location, including branches of GT Bank. To send money, customers must register with an agent and load money into their Splash account. Funds are then transferred to another mobile phone user using text messages.
Only phones on the Zain and Africell networks are currently registered on the Splash system, but consumers do not need a bank account to register and registration is free. Any Zain or Africell mobile phone can then receive money through Splash, and the electronic money or ‘SplashCash’ received can be converted to cash at any Splash agent.
Agents are currently concentrated in Freetown, Bo, and Makeni in Sierra Leone, with many more locations due to open in the country before the end of the year. “Splash promises to provide access to basic financial services for many Sierra Leoneans for the first time,” says Ben Farren, director, Splash.
Pankaj Gulati, CEO of MoreMagic Solutions, says the company is pleased to support Splash in delivering SplashCash: “In Sierra Leone, mobile phone customers often travel far from home to support their families, and managing salaries in a secure way can be a challenge.’