WorldRemit, a UK-based global online remittance service on Tuesday announced a deal with Tigo that will allow its users to make instant transfers to Tigo Mobile Money accounts in Rwanda.
According to WorldRemit, the service effectively means that people from more than 50 countries can send money to Rwanda as easily as they would an instant message.
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Tigo Cash in Rwanda offers digital financial services to over 2.6 million people in Rwanda – the main services includes sending and receiving money, merchant payment, Electricity bills and Pay TV, as well as airtime recharging.
The Rwandan remittance space is fairly big too: according to stats from the World Bank, Rwandans living and working abroad sent home more than US$179-million in remittances in 2014.
The aim of a service like WorldRemit is to make it easier and cheaper for them to do so, meaning that money in turn gets sent more frequently.
“For those sending money to Rwanda,” says Alix Murphy, Senior Mobile Analyst at WorldRemit, “our partnership with Tigo Cash sets a new standard: no more extortionate fees, no more waiting in line at convenience stores and cash pick-up locations. Together with Tigo, we make sending money home as easy as sending an instant message.”
For Tigo meanwhile, the relationship with WorldRemit gives customers extra incentive to use its mobile wallet.
“Tigo Cash has already seen tremendous success and adoption within Rwanda,” says Tigo Rwanda CEO Tongai Maramba. “We hailed our one millionth active customer number recently. One third of our customer base actively users Tigo Cash at least once a month. We welcome WorldRemit as an innovative partner allowing Rwandans abroad to send money home in the most convenient and secure way – from a Smartphone to a Tigo Cash mobile wallet.”
