Payment services provider Western Union has
joined forces with MTN Group, a mobile network operator to bring
international mobile remittance services to countries across the
MEA (Middle East and Africa) region.
Under the new agreement, MTN subscribers
registered for its domestic MobileMoney service will be able to
receive international Western Union money transfer transactions in
their mobile accounts. This will allow a MobileMoney subscriber to
use the funds to pay bills, top-up airtime, send money domestically
and internationally, or withdraw cash at MobileMoney agents or
participating ATM.
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In certain countries consumers will also be
able to cash out their transactions at one of Western Union’s
386,000 agent locations around the world.
“After bringing domestic financial services to
many of our customers, we will now enable customers to receive
money from abroad on their mobile phones to take out at their
convenience with their local merchant, send it to family or pay a
bill,” said Pieter Verkade, MTN executive of MobileMoney.
The service will first be deployed in Uganda,
where MTN’s MobileMoney service already boasts over one million
registered users. According to the World Bank, the country receives
nearly $500 million in remittances every year, making up three
percent of its GDP.
MTN’s MobileMoney service is currently
available in Benin, Cameroon, Ghana, Guinea Bissau, Ivory Coast,
Rwanda, South Africa and Uganda, with pilots underway in several
other markets.
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