FinTech Magazine explores how telecom companies are leveraging digitalisation in payments to expand their financial offerings in emerging markets
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FinTech Magazine explores how telecom companies are leveraging digitalisation in payments to expand their financial offerings in emerging markets
WRITTEN BY : LOUIS THOMPSETT
Many Western markets may not be too familiar with the likes of VodaPay or T-Mobile MONEY , but these newly launched telecoms payments options play a significant role in emerging regions by providing payment options .
In fact , when Vodacom – the South African telecoms company half-owned by Vodafone – debuted VodaPay in 2022 , this led to a 12.5 % revenue jump at Vodacom by Q4 of the same year .
It is , therefore , no wonder OpenPayd ’ s Head of Product Strategy , Daniel Belda , says digital payment technologies are enabling telecom companies “ to take this one step further and improve the engagement with and retention of their expansive customer bases ”.
The success of VodaPay and T-Mobile MONEY , as just two examples , proves that providing embedded payment options for telecom companies has led to “ increased customer engagement and loyalty compared to other companies looking to deploy a digital wallet or super-app ,” adds Belda .
Ericsson ’ s Head of Mobile Financial Services , Ola Persson , goes one step further , saying the advent of digital payments has “ revolutionised the way that customers engage with telecom companies ”.
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