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Nov 10, 2010

MTN to offer cross border money transfer service

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Africa and Middle East-focused mobile operator MTN is improving its MobileMoney offering allowing for cross-border money transfers.

The operator has signed an agreement with global payment services provider Western Union for a cross-border mobile money transfer service.

Once introduced, MTN customers would be able to send and receive Western Union Money Transfer transactions via their MTN MobileMoney accounts.

MTN’s customers in Benin, Cameroon, Ghana, Guinea Bissau, Côte d'Ivoire, Rwanda, South Africa and Uganda currently have access to MobileMoney accounts.

An MTN subscriber who receives a Western Union Money Transfer transaction in his MTN MobileMoney account, can use the funds to pay bills, top-up airtime, send money domestically or internationally, and withdraw the cash at a MobileMoney agent or any participating ATM.

The cross-border service would initially be launched in Uganda, the biggest MobileMoney market.

The use of mobile money transfer systems was becoming popular across Africa and the world.

Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
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