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Moneygram Customers Can Now Use Mpesa

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Vodafone and MoneyGram have partnered to enable consumers to transfer funds directly from around 200 countries to M-Pesa subscribers.

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This service will be unveiled in the second quarter of this year in key markets and will spread in other regions throughout the remainder of the year.

In the service, MoneyGram’s customers globally will be able to send funds directly to M-Pesa accounts. MoneyGram customers can also transfer money to an M-Pesa user through its website or mobile apps.

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M-Pesa is available in the Democratic Republic of Congo, Egypt, Fiji, India, Kenya, Lesotho, Mozambique, South Africa and Tanzania. Additional markets are due to launch during 2014.

The World Bank estimates that more than half of all inhabitants in the countries in which M-Pesa is available do not have access to a traditional bank account. With most of these inhabitants belonging to low-income rural areas and becoming increasingly reliant on cross-border transfers, mobile money provides a simple and low-cost method for geographically dispersed families to bank and transfer funds.

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Caroline Vutagwa
Caroline Vutagwahttps://my.techmoran.com
Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

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