Yu upgrades money transfer system

February 2, 2011

, NAIROBI, Kenya, Feb 2- Mobile operator Yu said it is the process of upgrading its money transfer service Yu Cash as it seeks to expand its services countrywide.

Country Manager Atul Chaturvedi said the operator is looking at improving its service delivery mechanism to grow its market share in the country.

Yu, which had already partnered with Equity Bank to link Yu customers to their bank accounts, said the upgrade will allow it introduce new services to its customers and enhance the security in money transfer.

“We are trying to create more relationships. We are trying to reach more villages and smaller towns. With Yu cash touch points which could be registered agents, ATM’s, restaurants or shopping outlets which now accept Yu cash. Our main focus is expanding the services offered to our consumers,” Mr Chaturvedi said

With a customer base of 1.7 million customers, 250,000 subscribers have already signed for the money transfer service with over 1000 agents spread countrywide.

Mr Chaturvedi was speaking during the launch of the zaZiada, subscriber promotion that will provide up to 50 percent extra talk time to its providers.

He said that data usage on the provider is higher than most of the other mobile service providers. He said with a safe business strategy, this would ensure no loss in revenue during the promotion period.

“If you look at data consumption per subscriber, we have a very healthy margin there. Whenever there is a price cut on the existing subscriber the revenue goes down, but the benefit of any price cut is that it makes your services more affordable which means more and more subscribers come into your fold and that is something which makes up for the loss of revenue in the long run, ” Mr Chaturvedi added

The promotion will enable yu subscribers to use their bonus airtime for any service (data, calls, SMS), across all networks and all day long.

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