Vodafone to launch mobile money transfer service in Afghanistan

UK mobile phone operator Vodafone announced plans to launch a money transfer service in Afghanistan for consumers to send funds using SMS text messages. The move follows the company’s successful venture in Kenya, launched by Vodafone and local mobile operator Safaricom in March 2007 targeting the unbanked market.

Vodafone claims the Kenyan M-Pesa service currently has over 1.6 million subscribers and around 200,000 customers sign up every month. The company expects the service to expand into the areas of pension payments, contract phones, and water and electricity bills. Future plans include introducing the system in India and some African countries. Currently the system only works domestically, within the country’s borders.