Obopay Inc. announced Monday that Essar Group of Mumbai, India, has selected its mobile phone payment technology for use by its Essar Telecom Kenya unit.
The unit was launched this year as Kenya's fourth cellular telephone network, under the brand "yu."
The mobile money transfer service, branded yuCash by Obopay, begins with a partnership with Equity Bank of Nairobi. Equity Bank has one of the largest branch networks in Kenya, and will be working over the next two months to expand its network of agents to allow subscribers to transact from anywhere in the country, Obopay said.
"Money transfer is a big opportunity for Africa," said Jayant Khosla, Essar Group's chief executive for Africa, said in Obopay's press release. "As we grow into other countries in Africa, we will ensure that this same innovative platform of mobile money transfer will also be utilized across the continent."
