Vodafone and Doha Bank unite for mobile money service

Vodafone unites with Doha Bank

In a bid to build upon Qatar's large expat community that frequently send money overseas to family and friends, Vodafone and Doha Bank have united to create a mobile money service that would enable customers to send finances through their phones.

The service could see customers apply for a Vodafone Money Transfer (VMT) account from Vodafone Qatar. They would then load money onto their mobile phone from Doha Bank e-branches or directly via a bank transfer.

Once the e-money is on their VMT account, a customer could send it locally or abroad as well as use it to pay for goods and services at local shops. If it is not sent or spent, it is simply stored, meaning customers can always exchange it back to hard currency.

The service is to be trialed over the next few months, with approval pending from Qatar's Central Bank to make the service commercial.

In a statement, Grahame Maher, CEO, Vodafone Qatar said, "Once Vodafone Money Transfer launches, it will establish Qatar as a leader in mobile financial services."

Major growth

Vodafone Qatar has seen major growth this year and has announced that the roll out of its mobile telecom network is set to be completed in October. While the company may be Qatar's second mobile phone operator, the provider reportedly has 100 percent geographical penetration in the country.

"All major critical milestones in building Vodafone's network are expected to be completed by October this year," Maher said last month. The CEO has also stressed for greater infrastructure sharing with Qtel, the country's premier provider.

"Tower sharing reduces cost of operations meaning better services and better value for all our customers. Moreover, it becomes environmentally friendly and aesthetically pleasing to the Qatari landscape," Maher stated.

Currently Vodafone has 390 outdoor tower sites in Qatar, of which 22 are on shared land with Qtel while four other towers are hosting Qtel equipments.

However with their recent success with e-money in Kenya, Vodafone could soon overtake Qtel in popularity. The company has made in a priority to bring mobile money to new markets such as Tanzania, South Africa and Fiji.

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