Monday
November 12
2018

Africa’s dominant mobile money service is going global

By Abdi Latif Dahir

Kenya’s biggest mobile money service M-Pesa is going global in a deal with Western Union that would allow users to send money all over the world.

M-Pesa’s over 23 million active subscribers in Kenya will also be able to send and receive money through their phones and be connected to WU’s 500,000 global agents. Safaricom, which runs M-Pesa, said transfers through bank accounts to Germany, the United Arab Emirates, and the United Kingdom will also be available, with services to bank accounts in other countries being rolled out in the coming weeks.

Photo courtesy of Neil Palmer.

Source: Quartz Africa (link opens in a new window)

Categories
Finance
Tags
digital payments, emerging markets, fintech, mobile money, remittances, Safaricom