Evcplus is a free electronic money transfer service introduced and operated by Somalia’s biggest telecommunications company, Hormuud.
It’s an easy to use tool and works like an SMS service. Both sender and receiver first need to register with the company. After dialling *770# from their mobile phone handset and using a four digit pin password, customers can choose between seven options. Instant transactions can be made as long as there is enough money in the account of the buyer. All texts go through centrally controlled software that adds or deducts money immediately from your account depending on your activity.
The service has transformed the small business sector and has improved Somalia’s economy. All the small business operators in the markets say they prefer to be paid by EVCplus. Since it’s introduction, 90 percent of more than 2.9 million Hormuud customers have opened an EVCplus account.
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