MoneyGram and Vodafone M-Pesa bring mobile remittances to new countries

People will be able to transfer funds from around 200 countries to users of Vodafone's mobile money transfer service M-Pesa

MoneyGram and Vodafone have added a new way to remit money to mobile phone users in developing countries, linking the money-transfer service with the network operator's M-Pesa mobile wallet service. Other payment networks already offer similar services in some of the countries where M-Pesa operates.

The agreement allows MoneyGram's 334,000 agents around the globe to send customers' funds directly to Vodafone M-Pesa accounts. Transfers can also be made via moneygram.com using mobile phones running iOS, Android or Windows 8.

M-Pesa allows Vodafone mobile customers over 18 to send money to any mobile number or bank account. The service can be used to pay bills or to withdraw, transfer and deposit money. The service is meant for rural low-income areas where many people lack access to a traditional bank account. Mobile money can provide a low-cost method to bank and transfer funds, the companies said in a news release.

MoneyGram offers money transfer services worldwide through a global network of agents that include retailers, international post offices and financial institutions. By working together, the companies want to enable users to transfer funds directly from around 200 countries where MoneyGram has agents to the millions of users of M-Pesa, they said.

Countries with M-Pesa services include the Democratic Republic of Congo, Egypt, Fiji, India, Kenya, Lesotho, Mozambique, South Africa and Tanzania, with more to follow during 2014, according to Vodafone. As of September, M-Pesa had nearly 16 million active customers who make in excess of €900 million (US$1.2 billion) worth of transactions per month, and the service has approximately 165,000 authorized agents worldwide, it added.

Rival money transfer service Western Union already works with M-Pesa to remit money to mobile users in Kenya and Tanzania; with MTN Mobile Money in Uganda, and with Tigo in Central America.

In the Philippines, both Western Union and Moneygram can send money to users of the Smart Money service run by network operator Smart Communications.

Money transfers from mobile phones to MoneyGram agents are also possible from Italy and the United Arab Emirates.

The joint service from Vodafone and MoneyGram will be launched in the second quarter of 2014, with additional roll-outs planned throughout the remainder of the year.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuesVodafone GroupMoneygram

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Loek Essers

IDG News Service
Show Comments

Father’s Day Gift Guide

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?