Vodafone signs mobile payment deal with Moneygram
Vodafone has signed a deal with currency transfer specialists Moneygram which will enable its mobile customers to transfer funds from 200 countries to users signed up to the M-Pesa mobile payments service.
Scheduled to commence a phased roll-out from this spring the service will enable consumers to pay cash directly into M-Pesa accounts, or transfer money between accounts, via Moneygram’s website or mobile app.
Michael Joseph, Vodafone Director of M-Pesa said: "There is huge demand for sending funds back to family and friends in your home market and an estimated $90bn2 per year is transferred to M-Pesa markets from around the globe. Our partnership with MoneyGram provides the most extensive global network and greatest number of access points for consumers wishing to transfer funds to M-Pesa users."
M-Pesa is currently available in the Democratic Republic of Congo, Egypt, Fiji, India, Kenya, Lesotho, Mozambique, South Africa and Tanzania and is intended for use by people who do not have access to a traditional bank account.