Low Transfer Fee Bank Card

East Africa: Africa's Mobile Money Pricing Systems Need Fixing

Nairobi — Four years ago, Safaricom, Kenya's biggest mobile operator launched M-Pesa in the country -- the first mobile payment scheme in Africa -- opening a floodgate for similar services across the continent.

South Africa, Madagascar, Uganda, Côte d'Ivoire, Senegal and Tanzania are among countries in Africa offering mobile money transfer services. However none of the payment services in these countries have attained the depth and reach that Safaricom has, analysts say.

On top of standard transfer services, the mobile operator also offers international remittance services, bank accounts, utilities payments, purchases facilities, cash cards -- in short, all the services that you expect from a traditional retail bank.

However, pricing structures governing payment services to be improved.

Free subscription

Joining the payment scheme offered by any of four mobile phone operators -- Safaricom, Orange in Côte d'Ivoire, Telma in Madagascar and MTN in Uganda -- is free. However, a customer might need to swap an existing SIM card for a new one in order to use the payment services.

At MTN Uganda, the SIM card swap is free for post-paid customers but prepaid customers will have to pay Ush1,500 ($0.64). Telma proposes a SIM swap at slightly over 2,000 Ariary ($1).

However, all four operators have restrictions on the payment services in favour of their own subscribers. This only encourages multi-SIM ownership. If a customer is not a subscriber of MTN Uganda or Orange Côte d'Ivoire or Telma Madagascar or Safaricom in Kenya but wants to use their mobile payment service, they will need to get that SIM card.

The "walled garden" commercial approach of mobile operators for payment services gets tougher when it comes to the fees charged for transfers.

The common denominator among the four operators is: If you transfer money to another mobile user registered to the service, the fee is rather small but if you transfer money to a person that is not registered to the service then the fee can be five to 20 times more.

At Telma, transfers to registered mobile users attract 250 Ariary ($0.13) for amounts between 100 Ariary and 5,000 Ariary ($0.07 and $3.7), but it will cost three times more to send the same amount to an unregistered user.

For higher amounts, the fee gap gets larger. It costs 3,000 Ariary ($2.2) to transfer between 1,000,001 and 5,000,000 Ariary ($731 and $3,652) to a registered mobile user but 3.6 times more to an unregistered user.

Simple Tips For Finding The Best Low Interest Rate Credit Card ...

When looking for a low rate credit card provided, you must evaluate several factors. Certainly, the rock-bottom tax is your main objective, but do ensure that this rate is stable and not provide an introduction that is higher than its normal rate of interest once the introductory period elapses.

You can probably find much more than a minimum bid fee credit card with a little research online. In addition, you will need to use other criteria to determine the best to provide.In case you travel a lot for work or pleasure, a bonus credit card that includes the cost of points for discounts flight could appeal.

If you love entertainment and restaurants nearby, possibly close to a financial institution that rewards you with coupons in the direction of retail stores, restaurants and movie tickets can be your best choice. Some of these costs credit card includes the possibility to convert your money factors deposited into your bank account too. That may be fine if you pinch pennies in this economy.

Another credit card payment provide appeal may be the possibility of transferring the stability on a rate card further than the new discount card. This can save you money if your current stability is higher.

This minimum free card promotions consist of 3% rebate on groceries, gas and drugstore purchases for the first six months you use the credit card, with all other purchases earn a cash return% for the same period.Another is even more attractive, which gives its cardholders 5 percent of the money back each quarter for credit card purchases that include retail stores, home improvement stores and gas stations. Although caps charge this card quarterly payments, money supply is again underway.

An innovative bank that offers rewards to its holders when they use their cards to pay their mortgages held by the financial institution. Several credit card companies have waived their annual fee - a premium attractive when the costs can range from $ 15 to $ 300.Another card company, with clients flyer in mind, enables cardholders to redeem miles for flights booked with this credit card for future tickets, hotel stays and car rentals.

As you explore the offer low rate credit card is best for you, be sure to look beyond that small fee. Check if the tax expires, and if so at what rate you will be charged. Find out what stresses the annual fee, you pay, and how many awards you are able to earn for what types of transactions. Many factors go into determining the best deal for you.