T-Kash Loan: Telkom, an integrated telecommunications provider company that provides integrated solutions to individuals, Small and Medium-sized Enterprises (SMEs), Government, and large corporates in Kenya is planning a credit product called T-Kash Loan.
According to a blog post by Telkom, T-Kash is Telkom’s mobile financial service, which simplifies and lets customers transact money, pay bills, and purchase things swiftly and on the go. However, as the business prepares to introduce the T-Kash Loan, this might provide them an advantage in the mobile money clashes, which favor Safaricom’s M-PESA.
About T-Kask Loan
Kenyans are well-known for how much they like to use mobile loans. However, this will also be Telkom’s first product of its kind. While Safaricom, on the other hand, offers this product in three ways through its M-PESA mobile money service: Fuliza, KCB M-Pesa, and M-Shwari. Local banks (KCB and NCBA Kenya) and the telco work together to make the products.
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Moreover, it is not yet known if the telco will work in conjunction with financial institutions to promote this product; nonetheless, this is the approach that the vast majority of telcos choose to pursue. Because of this, regular users of T-Kash will soon be able to file loan applications directly from the app. This will bring even more easy mobile banking services for Africans, who are renowned for being big lovers of mobile banking.
T-Kash Loan is a product that can be viewed on the smartphone app that the product comes with. The app also works as a utility service for clients of Telkom.
Nevertheless, the loan product has not yet been made available for use, although the business has indicated that it would be “coming soon.”
The product is likely to attract customers to T-Kash
Observation
According to the report, the lack of growth in the Kenyan market has impeded both T-Kash and Airtel Money. This might give Telkom’s mobile app a better chance over M-PESA, which currently holds 99 percent of the country’s market share.
In a previous regulatory intervention, the Central Bank of Kenya encouraged Safaricom to provide bill payment interoperability between itself, T-Kash, and Airtel Money, allowing consumers to send and receive money from any network interchangeably. However, this has had little effect since most consumers choose M-PESA over this method.
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There are plans to additionally enable agent interoperability, which would allow consumers to withdraw or deposit monies at any mobile money agent using any mobile money wallet.
On agent interoperability, M-PESA by Safaricom is the market leader with over 260K mobile money agents.
T-Kash ranks third with 8,0K agents, followed by Airtel Money with 22,8K agents.
