Xpress Money and MTN Partner to offer Mobile Remittances in Ghana

In a move that further strengthens Xpress Money's alternate channels portfolio, the money transfer company announced its partnership with MTN Ghana - a telecom giant in Ghana. Xpress Money customers remitting to Ghana will now be able to transfer money directly into the Mobile Wallets of registered MTN Mobile Money users in the country. 

How to send and receive money through MTN:

 

• A Customer walks into an Xpress Money location
• Provides the beneficiary's details, registered mobile number and hands over the amount
• The beneficiary receives an SMS confirmation to collect money
• Beneficiary visits the nearest MTN location and presents a valid ID to receive the money

The mobile wallet service to Ghana will be launched from UAE, KSA, Kuwait, and Qatar in the GCC.

Xpress Money is the first money transfer operator to offer this cash to mobile service for Ghana from the GCC region.

Apart from the GCC, the service will also go live from countries such as Jordan, Australia, UK, USA, Canada, Belgium, Denmark, Germany, Malta, Nigeria and Italy. This service will offer one of the most convenient and safe ways to receive money for Xpress Money customers.

Xpress Money will look to expand this mobile wallet service for Ghana from other countries in its network, by the end of this year. The global money transfer operator had launched a similar service in Kenya in 2014, in association with m-Pesa.

Commenting on the partnership, Sudhesh Giriyan, COO - Xpress Money said, "Africa has been at the forefront of remittance related innovations and we have been very focused on offering the same to our customers across the continent. We are very happy to join hands with MTN who have championed the Mobile Wallet segment, and believe that this service will take convenience to the next level for our customers receiving money in Ghana."

Speaking about the partnership, Eli Hini, Commercial Senior Manager, MTN Mobile Money, said "MTN Ghana is excited to be leading innovations in the mobile wallets segment in Ghana with the launch of a service that makes Ghanaians living abroad feel even closer to their family and friends. The service can be enjoyed by all registered MTN Ghana Mobile Money customers and is instant, totally secured and very convenient."

As part of the service, a customer can send up to $1500 in a month and up to $500 can be sent per transaction. To make use of the mobile wallet service, beneficiaries in Ghana need to be registered with MTN Mobile Money service. Beneficiaries do not require a bank account in Ghana to receive money. The money is transferred directly onto the Mobile Money wallet.

"There are over 1.75 billion smart phone users in the world today and a recent transparency market research stated that the global increase in smartphone penetration will boost the value of the mobile wallet market to USD 1,602.4 billion by 2018. With service offerings such as these, we are ready to tap into the tremendous potential of the mobile wallet segment for remittances" added Giriyan.

Mobile Money is a fast, convenient, secure and affordable way of performing cash transactions using a mobile phone. MTN Mobile Money was launched in Ghana in July 2009 in partnership with 10 banks. Funds in the MTN Mobile Wallet can be used to transfer money, top up MTN airtime, pay bills (DStv, ECG, MTN Post Paid Bills), pay for airline tickets, pay insurance premiums as well as pay for other goods and services.

SOURCE:ZAWYA