The second tranche of interest payments, begun on Sunday, September 18, 2016; a week after the first tranche of payments.

Some customers had expressed varied concerns over the apparent delay in payments for the first quarter.

Some telecommunication companies also attributed the challenges to the relative new systems and high numbers involved.

But the Director of Vodafone Cash, Matinson Obeng- Adjei explained to Citi Business News, there have been less challenges this time round.

“The second round of payment has been smoother than the first because that was our first attempt as an industry but I think from then we learned a few things that has made this payment rather better,” he stated.

About 500,000 Vodafone customers were expected to receive interest for the second quarter.

Mr. Obeng- Adjei further assured all customers will all receive their interest on their mobile money wallet.

“We have started paying our customers from midnight and as at the process is still ongoing. Some customers as at now must have received their interest and some customers are yet to be paid. At this point we have paid over 60% of the customers,” he said.

About 12 million cedis were distributed by the four telecom companies offering mobile financial services for the first and second quarters respectively.

Customers are expected to earn between 1 and 7 percent in interests on their mobile money wallets.

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By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana

The post Less hustle in 2nd quarter interest payment – Telcos appeared first on Citi 97.3 FM - Relevant Radio. Always.

[contextly_sidebar id=”fyD44OaZAbuliQX0jOiWv4lb4oBQc1SH”]According to Tigo, 65,000 customers have so far received interest on their Tigo Cash.

A total of over GHc1.2million is expected to be paid to all Tigo Cash users by the end of the first and second quarter payment windows.

Speaking to Citi Business News on the latest development, Chief Commercial Officer of Tigo Ghana Tara Squire assured all Tigo customers will get their interest paid as directed by the BoG soon.

“For today [Tuesday], we’ve already paid over 650,000 customers and we are still paying. People have various amounts and we are continuing to pay. The subscriptions are worth about 1.2 million cedis.”

The payment follows a directive by the BoG for all telcos to pay interest to customers of mobile money banking.

“For me it’s a great day for mobile wallets and for financial inclusion because henceforth, it doesn’t matter where the money sits, be it on your mobile phone or traditional bank account, you have the power to earn interest on it which is exciting.”, Mr Squire added.

He concluded saying “What we are paying now is quarter one and quarter two. So even though the approval is been given on the 11^th of September to go ahead, its retrospective. It goes back to the rest of the year.”

Tigo launches new product

Meanwhile Tigo Ghana has launched its new Cash product which allows customers buy airtime for anyone on any network in Ghana and over 100 countries across the world.

The new product is dubbed Tigo Cash International Buy Airtime.

With the new addition, Tigo customers roaming on the Tigo network can equally purchase airtime for themselves and other international networks at no extra cost.

Chief Commercial Officer of Tigo Ghana Tara Squire says “this innovation we believe will change the way customers interact with the mobile phone as it brings more convenience to them.”

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By: Jessica Ayorkor Aryee.

The post Tigo begins payment of ‘Tigo Cash’ interests appeared first on Citi 97.3 FM - Relevant Radio. Always.