E-money Top-Up, Simplified to majority mobile money agents (wakala), Mobile Banking, Mobile Money & Bank Customers

What is V-Money?


Afrisolutions Limited plans to bring an innovative scratch-voucher solution enabling unique pin numbers/ qr code to transfer E-money (Electronic Money) from a Collection/Trust account to Agents (Mobile money & Mobile bank) E-Float accounts, Mobile Bank customer account & Mobile money customer accounts/Wallet such as Tigopesa, Airtel Money etc, through V-Money Application or USSD/SMS-Enabled phones.

Objectives of v-money
  • V-Money (VIRTUAL MONEY) is a solution that aim to ease availability of electronic/digital money to mobile money agents, mobile bank agents, mobile bank customers and mobile money customers such as Tigo pesa, Airtel money etc, in both rural and urban areas through the use of scratch cards/vouchers also known as V-Money Voucher.
  • The Voucher shall resemble airtime physical vouchers but it shall top-up E-Money instead of airtime.
  • Voucher pin numbers or QR codes shall be for vilification purposes, if pin numbers/qr codes are valid e-money shall be transferred from our Collection Account to Agents Accounts.
  • V-Money vouchers shall have a different denomination such as; TZS 10,000, TZS 30,000, TZS 200,000, TZS 300,000, TZS 500,000 etc Agents & Customers can top-up more than one voucher. Vouchers with big value denomination e.g. TZS 300,000 shall top-up Agents E-Float account while vouchers with small value denomination e.g. TZS 10,000 shall top-up customer e-money accounts/wallet.
  • We intend to distribute V-Money vouchers using existing channels such as Airtime physical voucher dealers, retailers with kiosk/shops, super markets etc.

Few Agents
Agent network has less than 5% of Mobile Money & Bank customers.

Insufficient E-Float
More often Agents remain with insufficient E-Float in their accounts.

Most mobile money agents and Bank agents operate with small capital and top-up their E-Float at the bank counter. Most Banks branches are scattered, and most close at 4pm. Once bank closes agents and account holders cannot top-up their accounts. Agents & clients waste time going to the bank, stay in queues and wait for top-up procedures, this lead to insufficient of E-Float more often to agents and therefore fail to transfer e-money amount when requested by mobile money clients.

  • V-Money vouchers shall be the other alternative of e-money depositing technique which can easy reach majority agents & account holders in both urban and rural areas such as airtime voucher dealers with kiosks/shops, other places such as street shops, petrol stations, restaurants & bars etc.
News
  • V-Money solution was among the top 5 finalist in PIVOT East 2015 Competition under the finance category. PIVOT EAST is a community of East Africa mobile start-ups emanating from the PIVOT East competition and affiliated to m:lab East Africa.
    All start-ups are welcome to maximize their visibility through this network that is curated by m:lab East Africa. Visit PIVOT East?