Yo! Payments Launched


Yo! Uganda Limited, a Uganda-based software company has launched a service which enables businesses to receive payments from their customers using existing Mobile Money Transfer (MMT) services. The service, named Yo! Payments, takes advantage of the already popular Mobile Money Transfer services, such as MTN MobileMoney, and delivers to businesses a convenient way of receiving payments for their goods and services through Mobile Money Transfer.

Yo! Payments is made available over the Internet on the website https://payments.yo.co.ug/ where interested businesses may subscribe for a free account. "Individuals have been the primary beneficiary of Mobile Money Transfer services", says Gerald Begumisa, the Managing Director of Yo! Uganda Limited. "Yo! Payments primarily targets businesses and makes the success of Mobile Money a reality for them".

The service, a first in Uganda, is intended to connect all Mobile Money Transfer services in Africa, enabling businesses to receive payments from their customers around Africa. "We pledge to our customers to connect a minimum of 3 new Mobile Money Transfer service by mid 2011, of which M-PESA, the Kenyan Mobile Money Transfer, will be one." Begumisa says. Yo! Payments is currently live with MTN Uganda's MTN MobileMoney service.

Yo! Payments is also expected to create new jobs for software developers who wish to offer the service of connecting businesses' websites to Yo! Payments. "Yo! Payments is expected to create at least 100 new jobs for developers before the end of 2011, by providing a freely available Application Programming Interface (API), which enables software developers to write computer programs that take advantage of Yo! Payments' features.", Begumisa says.

Incorporated in 2006, Yo! Uganda Limited has been operating in Uganda, primarily offering innovative telecom solutions.