BayPay reported that BelCash, Commercial Bank of Ethiopia, Zemen Bank and M-BIRR have together announced the start of a mobile banking service in Ethiopia. National Bank of Ethiopia released a directive in January 2013 allowing transaction-based mobile banking for underbanked people in Ethiopia.
The transfer limit will be capped at $324, and each transaction will be required to have a paper-based receipt. Companies that are based out of the country will not be able to participate as agents.
The new services are set to launch later in 2013.
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