Vodacom a sister firm to Safaricom has introduced Fulizaservices in Tanzania as part of an expansion project of the service.
With the Fuliza services, Vodacom users will be able to pay their bills even when they have insufficient funds on their mobile wallets.
The Mpesa overdraft facility charges its users an interest rate of one percent per day with a facility fee of 18 days.
Also read: Safaricom roll out an overdraft facility
In addition to that, users are allowed one request at a timeas long as it is within their overdraft period which also varies depending ontheir Mpesa score.
Fuliza has so far been successful in Kenya attracting a large pool of users. Safaricom hopes to cash in on the new service in addition to Mpesa’s normal transaction.