Telecom service providers have dominated and monopolized the mobile money business for years. Last year, however, a new player, Wave, came into the game and has been calling the shots now. Fuelled by a diligent and creative marketing board, Wave is everywhere in the country. Shirts, caps, and posters bearing the famous Penguin logo are widespread throughout the country.
Wave has prioritized snatching customers from the existing service providers. The creativity in its marketing, coupled with the attractive marketers, is proving to be effective in drawing people’s attention. All around the country, a good-looking lady or gentleman will greet you humbly and ask for a minute or two of your time to educate you about Wave and its services. They offer you goodies like caps and t-shirts, and lucrative actions like these go a long way in softening people’s hearts.
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Wave’s Approach
Among the many strategies used to cement and implement itself in the mobile money market, Wave has made its services cheaper than its competition. When using mobile money, there are charges for depositing cash on another line, sending money, withdrawing cash, plus the taxes charged by the government. When the government passed the mobile money tax bill, there were evident grievances and dissatisfaction from users. However, since there was a bit of monopoly, users were short of choices. All they had was mobile money. With the coming of Wave on board, customers were availed with another option, a cheaper option.
The comparison
For example, you are limited to two choices when you have 1 million shillings’ cash and want to get it to someone on mobile money. Either, you deposit the money on their sim card directly inclusive of withdrawal fees and incur a deposit charge, or you deposit on your line for free and send it to theirs at a fee and with withdrawal charges. All these are tedious and relatively expensive.
Wave gives users a cheaper option. With Wave, you can deposit and withdraw money for free. The only charges incurred are when you desire to send money from your mobile wave app to another, and these are only 1% of the amount you are sending.
In conclusion
It is hard to tell whether Wave will remain affordable even after setting up a strong clientele or charges will rise. However, the sole benefactor of the two companies locking horns for clients has always been the regular customer. So we best enjoy this while it lasts.