Vodacash is launching its new service M-Pesa Rallonge in the DRC to allow customers to financial assistance from their cell phones.
M-Pesa Rallonge is a new service dedicated to M-Pesa users with zero or insufficient balances. Users will be able to take advantage of this service to get an instant overdraft and top up their balance to make a transaction, such as:
- Send money without withdrawal fees;
- Purchase Credit for oneself;
- Purchase Packages for oneself;
- Purchasing Products;
- Resubscription to cable channels such as Canal+, Startimes, Easy TV, and Bleusat, except DStv, which only supports payment in dollars.
According to Hashim Mukudi, Managing Director of Vodacash, “M-Pesa continues to provide the DRC with the solutions that can benefit the population and promote digital and financial inclusion. Together we can drive economic development and provide services to those in dire need of access to financial services in rural and remote areas.”
Customers with an active premium account who make regular transactions via M-Pesa will be eligible for the offer. The overdraft is currently only available in Congolese francs, and its limit ranges from 50 to 100 thousand FC, subject to interest charges and penalties for violating the terms and conditions.
M-Pesa is the market leader in the Central and East African regions and the DRC. With a wide range of value-added products and services tailored to the purchasing power of the Congolese population, M-Pesa is the largest mobile money brand with a substantial 61% market share, a 10% contribution to GDP, and over 6 million customers. M-Pesa also has the largest distribution coverage to ensure service availability to beneficiaries and a rich ecosystem of products to encourage customers to make more digital transactions.
About VODACASH SA
VODACASH SA is a subsidiary of Vodacom Congo, which in turn is a subsidiary of Vodacom Group (Pty) Limited, South Africa and Vodafone Group, United Kingdom.
With its M-Pesa brand, VodaCash offers a wide range of high value-added products and services at quality/price ratio adapted to the spending power of the Congolese population and contributes to the socio-economic development of the DRC, in line with its vision of encouraging financial inclusion for communities. With an active base of more than 6 million subscribers since its launch in October 2012, M-Pesa is positioning itself as a key player in the DRC financial inclusion program, a program endorsed by the Central Bank of Congo (BCC).
M-Pesa has positioned itself as a critical player in the DRC national financial inclusion program, a program endorsed by the Central Bank of Congo (BCC). Through mobile financial services, VodaCash’s mission is to provide convenience and efficiency to customers by enabling thousands of men and women in all occupations to conduct transactions and thus propel economic growth by increasing financial flows, raising household incomes, accelerating microfinance, increasing savings, and transforming the informal economy into the formal economy.