Partnership enhances Africa mobile money growth
by SAVIOUS KWINIKA
JOHANNESBURG – MILLIONS in a number of African countries are poised to benefit from real-time, mobile receipt of remittances following a partnership between an international payment and money transfer hub and a mobile network operator.
At the Mobile World Congress in Spain, HomeSend and the Vodafone Group respectively, have announced the partnership on M-Pesa to cover Democratic Republic of Congo (DRC), Ghana, Lesotho and Mozambique.
Outside the continent, Albania will be covered by the partnership.
Homeland has previously launched connections for inbound remittances with M-Pesa in Kenya, Tanzania and Romania.
Claire Alexandre, Head of M-Pesa Commercial and Strategy, Vodafone, said M-Pesa increasingly made money mobile accessible across borders.
“We’re delighted to offer our customers more choice to send and receive money from other countries and networks.
“HomeSend connects them to an extensive global network, offering an affordable, secure and convenient solution for inbound digital money transfers,” said Alexandre.
M-Pesa (M for mobile, pesa is Swahili for money) is a mobile phone-based money transfer, financing and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the leading mobile network operators in Kenya and Tanzania.
M-Pesa has grown significantly to become the most successful mobile-phone-based financial service in the developing world.
The service has been lauded for giving millions of people access to the formal financial system and for reducing crime in an otherwise largely cash-based society.
Stephen Doyle, Chief Executive Officer, HomeSend, said Vodafone was a pioneer in domestic mobile money services.
“HomeSend, as the leading global payments hub, remains a natural partner for Vodafone to connect their domestic deployments to users worldwide.
“We are thrilled to expand our work with Vodafone to bring all-important, cost-effective money transfer services to M-Pesa customers in even more countries,” said Doyle.
HomeSend continues to rapidly expand the reach of their network, with coverage expected to reach more than 70 markets in 2016. These will include 20 new mobile money markets.
– CAJ News
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