Photo by: Bloomberg
Telecommunication giants MTN and Vodafone have collaborated to deliver seamless transactions between their respective Mobile Money and M-Pesa mobile money services in East Africa.
A memorandum of understanding between the parties would see customers of MTN’s Mobile Money and Vodafone’s M-Pesa access convenient and affordable international remittances across their operations.
The deal enveloped M-Pesa customers in Kenya, Tanzania, the Democratic Republic of Congo and Mozambique, and MTN Mobile Money customers in Uganda, Rwanda and Zambia.
“Our agreement with MTN to connect our mobile money wallets in East Africa is a fantastic example of cooperation and interoperability between competing mobile operators,” Vodafone mobile money director Michael Joseph said.
MTN Group head of mobile financial services Serigne Dioum added that the duo aimed to build a scalable model that would accelerate remittance roll-outs across Africa.
The parties would also share best practice and collaborate to “define the rules and standards” of mobile-based remittances in Africa.