Western Union and MTN Group launch Mobile Money transfer service in Uganda

Unlocking new economic opportunities for underbanked

The service enables around 2 million customers of MTN’s mobile money transfer service in Uganda, Mobile Money, to send and receive funds across borders (view press release). Funds can be sent from a bank account in select countries, or one of Western Union’s 450,000 global agent locations. The receiver can then ‘pull’ the funds into their MTN Mobile Money account. Through the service, MTN customers can also send money internationally directly from their Mobile Money account for cash withdrawal by the recipient at a Western Union location. Funds can also be sent directly to subscribers of various mobile phone companies in collaboration with Western Union. The duo is currently giving away 9,000 branded “Yellow” Mobile Phones to Ugandan MTN account holders. The devices will be available through promotions over the next few months.

Our mobile money transfer service will unlock new economic opportunities for thousands of underserved consumers in Uganda, whose financial needs are not being met elsewhere,” said Diane Scott, executive vice president, chief marketing officer and president of Western Union Ventures. “By deploying these tools for sending and receiving funds – particularly in areas lacking financial infrastructure – Western Union and MTN are helping to create more self-sufficient local economies.”

Mobile Money is currently present in 12 markets worldwide.  Following the launch of Mobile Money in Uganda, Western Union and MTN plan to introduce the service to other nations where regulations permit international remittance.

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