Vodafone today announced its agreement with MTN to interconnect their mobile money services.
The result of the mobile money service relationship is that the mobile customers of M-Pesa and MTN Mobile Money in East Africa will be able to transfer money to each other.
This interconnect collaboration will enable affordable international remittances between M-Pesa customers in Kenya, Tanzania, Democratic Republic of Congo and Mozambique, and MTN Mobile Money customers in Uganda, Rwanda and Zambia.
Vodafone Director of Mobile Money Michael Joseph said: “Our agreement with MTN to connect our mobile money wallets in East Africa is a fantastic example of co-operation and interoperability between competing mobile operators.”
“After launches in Ivory Coast and Benin in West Africa, we are looking enthusiastically at the collaboration with Vodafone in East Africa. Together, we aim to build a scalable model that will accelerate remittance roll-out across the continent,” said MTN Group Head of Mobile Financial Services, Serigne Dioum.