WorldRemit, an online money transfer service has signed an agreement with MTN to enable its customers send money directly and instantly to MTN’s Mobile Money customers in Uganda, Rwanda and Zambia, a move the firms say will reach millions with a life-enhancing financial services including savings and insurance schemes.
Ismail Ahmed, Founder and CEO of WorldRemit said: “Mobile Money is rapidly displacing cash as a way of receiving money from friends and family abroad. WorldRemit’s partnership with MTN allows our customers around the world to send money instantly to MTN Mobile Money users.
“As well as being fast and convenient, MTN Mobile Money is reaching millions of people who don’t have bank accounts, giving them access to a variety of life-enhancing financial services including savings and insurance schemes.”
According to the GSMA State of the Industry Report,there were an estimated 60 million active Mobile Money users in June 2013, up from 30 million in 2012. WorldRemit aims to tap into this market with such partnerships. WorldRemit is also available in Somalia, Ghana and Tanzania.
