International remittance service WorldRemit on Thursday announced that it had inked a deal with the MTN Group, allowing its customers to send money to MTN Mobile Money wallets in Rwanda, Uganda and Zambia.
According to a press release sent to Memeburn, the launch follows the signing of a global partnership agreement earlier this year, to enable WorldRemit customers all over the world to send international remittances to MTN’s Mobile Money customers.
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“This partnership makes sense for both companies, as WorldRemit and MTN share a disruptive approach to innovation and bring impactful services to our customers. Together, we are now providing an instant, fully digital and very affordable solution to send international remittance to Rwanda, Uganda and Zambia. Other countries will follow soon,” says Serigne Dioum, MTN Group Head of Mobile Financial Services.
Read more: WorldRemit users can now send money to Tigo Cash mobile wallets
“At WorldRemit, we are pioneering international mobile-to-mobile remittances. Our partnership with MTN allows our customers around the world to send money instantly from the WorldRemit app to MTN Mobile Money users in Rwanda, Uganda and Zambia. Together with MTN, we make sending money home as easy as sending an instant message,” says Alix Murphy, Senior Mobile Analyst at WorldRemit.
According to Murphy, “for diaspora members sending money to friends and family back home in these countries, Mobile Money is a real game-changer. In Uganda, Mobile Money has already overtaken cash pick-up and bank deposits as the preferred method to receive money. We expect this trend to continue as MTN’s Mobile Money services reach millions of people without bank accounts, giving them access to a variety of life-enhancing financial services including savings and insurance schemes.”
MTN meanwhile says its aim to accelerate the rollout of international remittance, and builds upon its launch of a cross-border mobile money transfer service between Uganda and Rwanda in August. The service allows customers in both countries to transact via MTN Mobile Money with the same simplicity as for a local money transfer. MTN also offers a mobile money cross-border remittance service between Ivory Coast, Benin, Burkina Faso and Niger. The remittance corridor between Kenya and Rwanda is the latest addition to MTN’s Mobile Money bouquet of services. It forms part of a major initiative between MTN and Vodafone, to enhance financial inclusivity in East Africa.
