Qash Services, a non-bank, non-GSM operator, has announced the launch of its mobile phone-based financial services in Cote d’Ivoire, under the name Qash Mobile Banking. Qash Services is one of four independent companies with a mobile money agreement from the Central Bank of the West Africa Monetary Union (BCEAO).
According to Francis Zago, CEO of Qash Services, “the introduction of our account services will make financial inclusion a reality for thousands of unbanked rural communities throughout Cote d’Ivoire. This is an important step for Cote d’Ivoire, a country where very high potentials for mobile financial services (80% of unbanked and more than 90% mobile penetration) have yet to be materialized.”
Qash Mobile Banking enables customers who sign up to use their mobile phones like digital wallets to pay for goods and services, transfer money to friends and family members, withdraw and deposit cash, and top up mobile phones.
Customers can also use their mobile phones, regardless of the mobile operator, as debit cards and manage funds directly from their handsets. The service, offered through a network local agents, is designed to be secure and flexible, and gives customers instant access to money 24 hours a day, seven days a week. Service can be accessed on even the most basic mobile handset.