WorldRemit signs Mobile Money partnership with MTN

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Online money transfer service WorldRemit has signed a global partnership with MTN, allowing WorldRemit customers to send remittances instantly to the telecom’s Mobile Money customers.

MTN’s operations in Uganda, Rwanda and Zambia will be added to WorldRemit’s list of mobile recipient options, with additional countries to follow.

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.

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.

 “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,” said Ismail Ahmed, founder and CEO of WorldRemit.

“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,” he added.

More than 50 per cent of all WorldRemit transfers to Africa are received in Mobile Money accounts or as mobile airtime top-ups.

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