">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Saturday, January 23, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Tech

University Students to Get Bursary & Loans Via M-Pesa

Sam Wakoba by Sam Wakoba
6 years ago
in Tech
8 min read
0

Related posts

Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021
0

What Software Developers Need to Know About Burnout

January 22, 2021
0

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0
10440624_686475598056085_1237207975699811370_nVodacom South Africa has partnered with Eduloan, an education finance and bursary administration firm to deposit directly Eduloan bursary and cash allowances into their m-pesa mobile wallet, a moe that will enable them to pay for some of their daily expenses using m-pesa.
By giving students educational and daily expenses from their bursary cash stipends via m-pesa’s mobile wallet, the two firms aim to migrate cash stipend students to the m-pesa platform during the month of October 2014.

Vodacom recently relaunched m-pesa in South Africa with a renewed focus on having an extensive network of shops and agents to make the service more easily accessible. The revamped m-pesa launched with more than 8,000 agents at both informal outlets and at major retail partners.  The plan is to grow that figure to around 30,000 points of presence by the end of the year.

Students who form part of this pilot but do not have cellphones will be issued with entry-level handsets by Vodacom to make sure that they do not miss out.

Eduloan’s existing electronic bursary disbursement system – which is currently enabled by smart card technology – has seen increasing student numbers, as well as an expansion across the various geographical areas, as more institutions and corporates entrust the organisation to manage their bursary funds.

READ  BARCLAYS SIGNS A DEAL WITH M-Pesa FOR MOBILE PAY SERVICE.

Eduloan recognised the need to further extend its platform to include mobile enablement to ensure ease and accessibility of students accessing such funds.  Over and above this Eduloan recognised the need to offer its student a low service cost banking solution to ensure that high charges would not prohibit their ability to access funds/cash required to fulfil their education.

Herman Singh, Vodacom’s Managing Executive: mCommerce, said: “Vodacom’s strategy with m-pesa is predicated on strategic partnerships and alliances. The Eduloan venture is a logical alliance as it brings together the fastest growing mobile payment instrument in the country with one of the largest players in the student payment, benefit and loan industry.”

“The strategic fit is excellent as it draws on the relative strengths of both firms.  It allows Vodacom m-pesa to enter the new and exciting market on campus and in schools, and allows Eduloan to migrate to a lower-cost and more feature-rich platform than it would be able to execute on its own. This gives Eduloan the benefit of lower risks as well as improved customer satisfaction,” adds Singh.

The process is simple. Students can open an m-pesa account by dialling *111# and follow the prompts. Eduloan will then deposit allowances or stipends funds directly into the students’ m-pesa account. This gives students access to a safe payment service to make cash deposits, do person-to-person transfers and make purchases using any POS device.

m-pesa includes an optional Visa card, meaning that mobile money can be used by students to pay for purchases at any store that accepts card payments. Other new uses of m-pesa include the ability to deposit and withdraw cash at 27,000 ATMs and over 240,000 merchant outlets in South Africa.  In the near future it will also be possible to purchase prepaid electricity using m-pesa.

READ  Cisco Ignites Enterprise Collaboration with Products That Will Change The Way Teams Connect

Charlotte Smit, Eduloan’s Chief Sales and Marketing Officer, says: “Key to Eduloan’s positioning is to ensure convenience and accessibility.  This does not only come in the form of affordability of loans, but very much so in terms of access to and fulfilment of funds for students – whether this is in the form of a loan, bursary or cash.”

Smith added, “Vodacom’s m-pesa offering provides a simple yet secure, cost-effective and controlled banking platform that offers convenience and immediacy. The rapid recharging and loading of allowances from sponsor/parent enabled by m-pesa is a much needed benefit to the student.  Furthermore, the additional offering of access to data and airtime, which assists students with research and collaboration, is exactly what Eduloan’s customers need.”

“m-pesa undoubtedly provides the innovation, simplicity and accessibility needed for the Eduloan market,” says Smit.

Readers 1,993

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: EduloanM-PESAVodacom
Sam Wakoba

Sam Wakoba

Taking you on tour through Africa's tech ecosystem, one startup at a time! [email protected]

Related Posts

Toshiba
Tech

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0
Tech

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021
0
Tech

What Software Developers Need to Know About Burnout

January 22, 2021
0
Health

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0
Tech

Google’s Project Loon, solar-powered internet balloons discontinued

January 22, 2021
0
kplc
Tech

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021
0
123movies
Tech

4 Best Free Movie Streaming Sites In Kenya

January 21, 2021
0
Tech

Sophos Named Common Vulnerability and Exposure Numbering Authority 

January 20, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
Toshiba

Shoppable Ad Formats Are Coming Soon To Youtube

January 23, 2021

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021

Why Bernie Sanders Is A Trending Meme

January 22, 2021

What Software Developers Need to Know About Burnout

January 22, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: