Western Union has acquired another partner in
its expansion into the mobile money transfer market:
It has teamed up with MTN in Uganda and the two
companies are going to initiate cross-border payments, both for
sending and receiving, via mobile handsets.
Go deeper with GlobalData
MTN has more than 2m customers registered on
its Mobile Money service in Uganda and operates in another 11
markets, including , Cote d’Ivoire, Cameroon and Rwanda.
Funds that are sent via Western Union’s system
will now be directly received into a MTN Mobile Money account. MTN
Mobile Money users will also be able to send money via Western
Union.
The two companies said they will look into
launching the service elsewhere in Africa as well.
Diane Scott, executive vice-president, chief
marketing officer and president, Western Union Ventures, said:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData “Our network of nearly half a million
locations, our experience in moving money across borders, and our
relationships with the world’s most successful mobile operators
such as MTN, ideally position us to introduce many people to
cross-border financial services.
“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.”
