Vodafone and Doha Bank team on mobile money service

Vodafone and Doha Bank team on mobile money service

Vodafone has partnered Doha Bank to launch a mobile money transfer service aimed at Qatar's large expat community.

The service, slated to go live early next year, is billed as a safe and simple way to send money to friends and family overseas, or locally.

To use it, customers need to apply for a Vodafone Money Transfer (VMT) account from Vodafone Qatar. They then load money onto their mobile phone from Doha Bank e-branches or directly via a bank transfer.

Once a customer has e-money on their VMT account they can send it locally and abroad or use it to pay for goods and services at local shops. Until e-money is transferred or spent it is stored for customers with Doha Bank, meaning they can also have the option to get it back as cash.

The service will be tested over the next few months to gain Qatar Central Bank approval prior to a commercial launch.

Grahame Maher, CEO, Vodafone, Qatar, says: "Once Vodafone Money Transfer launches, it will establish Qatar as a leader in mobile financial services."

Following the huge success of M-Pesa in Kenya, Vodafone has been steadily bringing mobile money to new markets, launching in Afghanistan, Tanzania, South Africa and, most recently, Fiji.

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