Press Release: WorldRemit and MTN Agree to Major Mobile Money Partnership

Tuesday, January 20, 2015

Online money transfer service WorldRemit and telecoms operator MTN have signed a global partnership that will enable WorldRemit customers to send remittances instantly to MTN’s Mobile Money customers.

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. 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.

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.”

MTN Mobile Money is currently used by 22.2 million customers in 16 countries across Africa, i.e. Benin, Botswana, Cameroon, Congo, (Cyprus), Ghana, Guinea Bissau, Guinea Republic, Ivory Coast, Liberia, Nigeria, Rwanda, South Africa, Swaziland, Uganda and Zambia.

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.

Source: Yahoo! (link opens in a new window)

Categories
Technology
Tags
mobile money, telecommunications