Telecom Operator Tcell and Wallet Factory to Start Mobile Financial Services
Wallet Factory and Telecom operator Tcell launched TezSum mobile financial service in Tajikistan. TezSum is a mobile app with e-wallet. In the app, users can pay for goods and services, and transfer money. The service is available to any mobile subscriber in Tajikistan.
TezSum service is a joint project of 3 companies. The software was developed by Wallet Factory, mobile network and technology provided by Tcell and licensing provided by The First Microfinance Bank. The companies implemented the project in 3 months. Wallet Factory acted as a partner in product development and service promotion. The project consists of three parts: TezSum mobile app, client analytics platform and MFS Business Management System.
TezSum app offers four services to the users: mobile top-up, paying utility and other bills, purchasing via QR code, card to card money transfers. Payment for goods and services is made with e-wallet balance or Korti Milli card. The wallet balance can be replenished in three ways: transfer money from Tcell mobile account, in cash via payment terminals or using Korti Milli card. Withdrawal from the wallet is made to Korti Milli card. The First Microfinance Bank provided an integration of Korti Milli cards. The app is available for download in the App Store and via Google Play.
Client analytics platform allows to analyze user behavior in the app and manage communication with the customers. Analytical data will improve customer interaction. The MFS Business Management System is a tool for managing financial indicators of a project used in mobile commerce.
“13% of Tajikistan population buy or pay bills online. The adoption of mobile financial services will grow. In 3 years-time we expect 500,000 people to use TezSum service.”Mikhail Miro, CEO of Wallet Factory
Tcell is the fourth telecom operator that introduced mobile financial services with Wallet Factory. Wallet Factory launched MFS with Vodafone, Beeline (VEON group) and NUR Telecom.
Tcell is the largest telecommunications company in Tajikistan, the only shareholder of which is the Aga Khan Fund for Economic Development (AKFED). AKFED is an international development agency dedicated to the promotion of entrepreneurship and the creation of economically sustainable enterprises. AKFED is one of the agencies of the AKDN system – a network of private development agencies that are aimed at improving the opportunities and living conditions of the peoples of the developing world. AKDN agencies work for the public good of all citizens, regardless of their nation, gender or religion. AKDN aims to contribute to the development of economically active, politically sustainable, intellectually diverse and culturally tolerant Tajikistan.
About Wallet Factory
Wallet Factory is a Mobile Financial Services Enabler (MFSE) and acting as a mediator between Telecom operators and financial institutions (banks, payment service providers, insurance companies). Wallet Factory provides planning, implementation and management of mobile financial services.