The remittance industry has evolved in recent years, with mobile operators and fin-tech companies providing attractive alternatives to the traditional models by offering more convenient and cheaper methods of sending remittances via mobile phones.
Aurasoft a young and dynamic Rwandan multi-skilled software service provider has announced it will launch a new remittance system called “RIHA Mobile Wallet” to offer similar services.
Riha Mobile Wallet is said to be a consumer engagement payment platform for retail and brands, it is said to deliver a fast, secure, and convenient way of making and receiving payments.
Speaking to IGIHE Alain Ndayishimiye the boss of Aurasoft said that RIHA Mobile Wallet is different from the regular system but it offers same services when sending money in local Rwandan currency.
“It brings to proximity of your money to one place, let it be from separate banks accounts and even from your mobile money account. As you continue using the RIHA, you continue to get used to it which then helps you to manage your money in an appropriate manner on top of other offering you services that you need.
The payments system will see buyers making payments for a good and services before without waiting to receive them, for instance payment of food which is ready in a restaurant.
The service will also assist business to gather customer and service information; the system does not cost payment when one wants to send money to a friend’s separate bank account.
Ndayshimiye further says that the reason why they decided to introduce the new system to Rwanda is because the Government introduced paperless payment systems to boost business to try and eliminate carrying huge paper currency and receipts altogether.
RIHA Mobile Wallet uses Bluetooth, Tap&Pay, NFC (Near Field Communication as well as POS machines (Point of Sale Machines). The system will be started in January but will be launched in next month in August, 2017.
The National Central Bank (BNR) reported that over 3.3 million send and receive money using mobile phones operated by three telecommunication companies MTN, TIGO and Airtel.
National Bank of Rwanda (BNR) reported that despite the slowdown in the global economy, remittances’ receipts grew by 7.7 percent in 2016 compared to a decline of 11.1 percent in 2015, following the emergence of mobile network operators (MNOs).
AuraSoft Ltd is a young and dynamic Rwandan multi-skilled software service provider with a highly competent workforce and a presence in the East African market.