MTN has signed a key global partnership that will enable WorldRemit customers to send remittances instantly to Mobile Money customers of the continent’s leading mobile phone operator.
[su_quote]MTN Mobile Money enables users to perform local and international money transfers, make utility payments, save money in their interest bearing mobile wallets, purchase airtime and access a range of mobile financial products. [/su_quote]
MTN Mobile Money has footprints across Africa and is being used in Nigeria, which is among 22.2 million customers in 16 countries including Benin, Botswana, Cameroon, Congo, (Cyprus), Ghana, Guinea Bissau, Guinea Republic, Ivory Coast, Liberia, Rwanda, South Africa, Swaziland, Uganda and Zambia.
The agreement extends WorldRemit’s position as the leading provider of remittances to Mobile Money users (also known as mobile wallets) at a time when the technology is experiencing rapid uptake, especially in Africa, the companies announced today in a statement made available to Technology Times.
MTN Mobile Money enables users to perform local and international money transfers, make utility payments, save money in their interest bearing mobile wallets, purchase airtime and access a range of mobile financial products.
MTN Mobile Money is increasingly an important part of MTN’s service offering, and the partnership with WorldRemit further strengthens the operator’s position in cross border remittances, they said.
Ismail Ahmed, Founder and CEO of WorldRemit said: “Mobile Money is rapidly displacing cash as a way of receiving money from friends and family abroad. WorldRemit’s partnership with MTN allows our customers around the world to send money instantly to MTN Mobile Money users.
“As well as being fast and convenient, MTN Mobile Money is reaching millions of people who don’t have bank accounts, giving them access to a variety of life-enhancing financial services including savings and insurance schemes.”
To kick-start the partnership, MTN’s operations in Uganda, Rwanda and Zambia will be added to WorldRemit’s list of mobile recipient options, with additional countries following soon after.
“The partnership with WorldRemit is yet another important step in our journey to enable the affordable transfer of monies across borders. Our remittance strategy places the customer at the heart of any offer we introduce as MTN and, working with WorldRemit, we intend to further extend the convenience of MTN Mobile Money to our customers,” Pieter Verkade, MTN Group Chief Commercial Officer.
More than 50% of all WorldRemit transfers to Africa are received in Mobile Money accounts or as mobile airtime top-ups, according to the online money transfer service provider.