A new twist has come to the mobile money market, with a new offing by Millicom owned Tigo Tanzania that will see users of its mobile wallet get individual payments every financial quarter.
The telecommunications services provider announced that it will give its Tigo Pesa customers up to 1.8 Million Dollars, through a new quarterly payments offing aimed at improving the lives of people in the country.
Customers of Tigo using the mobile money service will be rewarded depending on the average daily balance on their Tigo Pesa e-wallets.
With this move, Tigo Pesa becomes the first mobile money service to pay profit to its subscribers across Tanzania who total 3.6 million.
This new payment plan comes into play months after the company, owned by Millicom, transferred a total of 8.64 Million Dollars in profit into the Tigo Pesa Trust Account.
“This second round of profit disbursement shows the company’s continued commitment to benefit and improve the lives of Tanzanians,” said Diego Guiterrez, General Manager Tigo.
Users to receive the payments will include Tigo’s super agents, retail agents as well as all subscribers using the Tigo Pesa offing.
Tigo said the first payment into the Trust Account was bigger as a result of the long period of three and a half years that the profit had been accumulated.
The second payment for Tigo Pesa users is a result of the profit the company has accumulated from funds held in trust in commercial banks for three months ending September 2014.
Tanzanians using Tigo’s mobile money service will enjoy these payments every financial quarter, with the second installment for the next quarter ending December 2014 to be paid in February, 2015.