Mobile Money the Sequel Vodafone Cash vs Airtel

 Vodacash( Vodafone Mobile Money product is still in beta) and Airtel cash is a more established Mobile Money product .

Please bear that in mind as you read the review

As i did in the first and review Tigo vs MTN  , I will categorize  my observations and thoughts.

Customer Onboarding 

Vodacash 

  •  Present  an agent with  valid ID, date of birth and physical address.
  • The agent enters customer phone number,valid ID, date of birth and physical address on his mobile device.
  •  Vodacash send you a welcome message via SMS to choose a new cash PIN 
  •  Now access the Vodacash menu after choosing a secret PIN

 Vodacash1


Airtel Money

 Customers  can register for Airtel Money by themselves.Its is the Self service approach , i have for years expected from the Telco’s.I congratulate Airtel on this.

  • Customer dials  *500# in the comfort of his/her home,
  • Customer changes the secret PIN and is ready to use mobile money.

Airtel solves the KYC(know your customer) problem by  using your data when you initially registered for the SIM card. That Simple…

 AirtelMoney1

 

 

Charges & Tariffs

Vodacash

 

 

 Transaction Brands (GH₵)

 

 Cash Deposit

Money 

 Transfer Registered Usered 

Transfer 

 Transfer to unregistered Customer

 

 Cash Withdrawal 

  1. – 50

No charge

0.50

1.50

0.50

50.01 – 75.00

No charge

0.75

2.50

1.50

75.01 – 100

No charge

1.00

2.50

1.50

100.01 – 250

No charge

1.50

4.50

2.50

250.01 – 500

No charge

2.00

6.00

4.00

500.01 – 1000

No charge

2.50

10.00

6.50

1000.01 – 2000

No charge

5.00

20.00

10.00

Ø  2000

No charge

6.00

30.00

15.00

 

Other Transactions

Transaction type

Charge

Buy airtime for self

No charge

Buy airtime for others

No charge

Check balance

No charge

Request PIN change

No charge

Request Mini statement

0.50p

 

Bill Payment

Transaction type

Charge

Vodafone Post paid

No charge

Vodafone fixed lines

No charge

Vodafone fixed broadband

No charge

 

 

Airtel Money

 

Send money to a Registered Customer

Transaction Amount (GH₵)

Service charge

0.01 – 100

GH 0.5

101 – 200

GH 0.75

201 – 300

GH 1

301 – 400

GH 1.25

401 – 500

GH 1.50

500 – 800

GH 1.75

800 – 1000

GH 2.00

 

Send money to a Non Registered Customer

Transaction Amount (GH₵)

 Service Charge

0.1 – 100

3.5%

101.01 – 300

GH₵ 4

301.01 – 400

GH₵ 5

401.01 – 500

GH₵ 6

501.01 – 600

GH₵ 8

600.01 – 800

GH₵ 10

800.01 – 1000

GH₵ 12

 

Cash out Registered Customer

Transaction Amount (GH₵)

Service Charge

0.01 – 100

2.5%

100.01 – 400

GH₵ 3

400.01 – 500

GH₵ 4

500.01 – 600

GH₵ 5

600.01 – 1000

1.0%

Wallet to Bank

Transaction amount – GH₵

 Service charge – GH₵

1.00 – 500.00

0.5

500.10 – 1000

1.0

     

 

ATM Cash out

Transaction Amount – GH₵

Service charge – GH₵

1.00 – 100.00

0.7

101.00 – 200.00

1.0

201.00 – 400.00

1.5

 

 

 

Value Adds

 

Value Add

VodaCash

Airtel Money

Top up Airtime for self and friends

Yes  

Yes   

Savings Service

Yes 

Yes 

Receive Money from outside Ghana

X

x

Pay Bills

Yes

Yes  

Mobile Insurance

Yes  

Yes

Lending Services

Yes

Yes

ATM Cash out service

X

Yes

Mobile Banking Services

X

Yes

Mini Bank Statement

Yes

 

 

 

 

 

 

In conclusion

Charges

 Vodacash is generally cheaper for larger amounts(from 1000 GHS ) and from the literature we reviewed,Vodacash has  a higher transfer limit than Airtel. This is also contingent on being a registered user or on the Airtel network.

Example of Charges at  1000 GHS 

Vodacash

Transfer Registered 2.50 GHS

Transfer Unregistered 10

Withdrawal 6.50

Airtel Money

Transfer to registered user  2.00 GHS

Transfer  to unregistered  user 10 GHS

Withdrawal 10 GHS

 

Smaller amounts i.e around 50 Cedis or less the costs are generally the same 
Example for 50 GHS

  • Vodacash Charges:
    Transfer Registered User 0.50 GHS [2.5%]
    Transfer Unregistered User 1.5GHS [3%]
    Withdrawal 0.5 GHS

Airtel :

  • Transfer Registered User 0.5 GHS [2.5%]
  • Transfer Unregistered User [3.5%]
    Withdrawal 0.5 GHS [2.5%]

 

Innovation

Airtel Money wins on innovation with a  wider range of other services( like shopping online, depositing physical cash for electronic money (e-value), and mobile banking including the ability to transfer  money to your bank account participating banks are Ecobank,GT Bank ,Uni Bank,UBA and Fidelity .

 Ease of use 

 Airtel wins the ease  registration process because of its  self service  model which saves them the time and money and in convenient  

 

 

 

 

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