A mobile telecommunications giant, MTN has entered into partnership with an online money transfer service, WorldRemit for the transfer of remittances by customers having Mobile Money accounts.
Per the partnership, WorldRemit customers are allowed to send remittances instantly to MTN?s Mobile Money customers.
The agreement extends WorldRemit?s position as the leading provider of remittances to Mobile Money users at a time when the technology is experiencing rapid uptake, especially in Africa.
The Founder and CEO of WorldRemit, Ismail Ahmed noted that Mobile Money is rapidly shifting cash as a way of receiving money from friends and family broad, therefore the partnership his company is having with MTN comes at an opportune time as customers will be allowed to send money instantly to MTN Mobile Money users.
Also, the MTN Group Chief Commercial Officer, Pieter Verkade, in his comment averred that the partnership with WorldRemit is yet another important step in the company?s journey to enable the affordable transfer of monies across borders.
He added that, ?Our remittance strategy places the customer at the heart of any offer we introduce as MTN and, working with WorldRemit, we intend to further extend the convenience of MTN Mobile Money to our customers.?
MTN Mobile Money is increasingly an important part of MTN?s service offering, and the partnership with WorldRemit further strengthens the operator?s position in cross border remittances.
It has been noted that, MTN?s operations in Uganda, Rwanda and Zambia will be added to WorldRemit?s list of mobile recipient options, with additional countries following soon.
Globally there are 256 Mobile Money services currently active, according to the GSMA, and also, there were an estimated 60 million active Mobile Money users in June 2013, up from 30 million in 2012, according to the GSMA State of the Industry Report.