Vodafone, MoneyGram join hands to expand mobile money

Vodafone and MoneyGram have joined hands for expanding mobile money services.

The association will enable consumers to transfer funds directly from around 200 countries to the millions of users of M-Pesa.

This service will be launched in key markets during the second quarter of 2014, with additional roll-out planned throughout the remainder of the year.

The agreement will allow consumers who visit MoneyGram’s 334,000 agents to send funds directly to M-Pesa accounts. MoneyGram customers can transfer money to an M-Pesa user through moneygram or via a mobile app, available on iPhone, Android and Windows 8 phones.

Michael Joseph, Vodafone Director of M-Pesa

M-Pesa is available in countries such as the Democratic Republic of Congo, Egypt, Fiji, India, Kenya, Lesotho, Mozambique, South Africa and Tanzania. Additional markets for M-Pesa will be added during 2014.

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 $90 billion per year is transferred to M-Pesa markets from around the globe.”

picture source: telecoms.com

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