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
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…
Charges & Tariffs
Vodacash
Transaction Brands (GH₵) |
Cash Deposit |
Money Transfer Registered Usered |
Transfer Transfer to unregistered Customer |
Cash Withdrawal |
|
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
Honestly I don’t know why Vodafone charges for a mini statement