Wednesday, March 9, 2011

YU (Essar) Introduces YuCash a Mobile Phone Money Transfer Service

Mobile phone money transfer service is the latest venture by mobile service providers in Kenya in an effort to increase their earnings after reduction in voice revenue due to competition. Competition led to a slash in voice tariff rates from Kshs.8 to just below Kshs.2 per minute. YU (Essar) introduced YuCash a mobile phone money transfer service similar to Mpesa to offer money transfer service to its subscribers. Currently, YU is working to grow its agents network countrywide that will allow subscribers transact from anywhere in the country.

 Yu intents to diversify its products to meet customer needs and expectation. It is also expected that Yu will partner with other players to make its products efficient and reliable. Among these partners is Obopay. Obopay is one of the leading and globally recognized players in mobile banking services. Yu, through Essar found its way to Kenyan market after acquiring Econet which had originally been licensed to offer telecommunication services in the country.
Yu cash promises its customers to be able to send and receive money instantly and securely through their mobile phones. Innovations in the mobile money transfer service will enable customers enjoy a variety of convenient mobile banking services. Technology in Africa is enhancing our daily lives.
In order to enjoy YuCash services, you will need to have a Yu Sim card which has a preloaded Yu cash menu. You will however need to;

1.      Register your Sim card with any YuCash agent.  
2.      Visit a YuCash Agent and fill in and sign a Customer Registration Form provided by the agent.
3.      Attach a copy of your National ID, Passport, Military ID or Diplomatic ID.
4.      Return the filled form to the YuCash agent
5.      Upon successful registration, you will receive a confirmation number directly from YuCash by SMS.
After registration;
·        Go to yu Zone from you cell phone menu and select the yuCash option.
·        Send a SMS with the words ‘YUCASH UP’ to 777.
·        Wait for 2 to 3 minutes for the menu to become interactive. Then activate your yuCash account using the YuCash menu, the confirmation number will be required. Start enjoying the YuCash services.

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