Millicom partners with Western Union for Cross-Border Mobile Money Transfer Services (Latin America)
Western Union, a leader in global payment services, and Millicom International Cellular, a leading mobile operator in 13 markets across Latin America and Africa operating under the Tigo brand, have signed an agreement to introduce cross-border mobile money transfers in Latin America, as per an announcement at the Mobile World Congress 2012.
The first cross-border money transfer service under this agreement will be launched soon in Paraguay under the Giros Tigo brand (Tigo Cash). Millicom will then be able to offer its customers in Paraguay the ability to receive money across borders using their mobile phones.
The service will be rolled out over time in other markets in Latin America. This agreement will allow millions of Tigo customers to benefit from Western Union’s extensive network of more than 450,000 agent locations across 200 countries and territories, whilst Western Union will deepen its distribution reach in the markets in which Millicom operates.
Diane Scott, chief marketing officer and president, Western Union Ventures, has said that they’re excited to join forces with Millicom, their first mobile money partner in Latin America. As a leader in moving money around the world via a variety of channels — retail and electronic — it’s important that they continue to evolve and expand their services so they are even more convenient to use and accessible to as many people as possible. Further, they’re uniquely positioned to do this with their network of more than 450,000 agent locations, long-standing experience in moving money, and agreements with leading telecommunications groups like Millicom.
Marcelo Cataldo, Head of Mobile Financial Services, Millicom Latin America, has said that they are pleased to be the first in Latin America to be launching a cross-border money transfer service in partnership with Western Union. Also, they continuously strive to offer their customers useful and affordable services, from communication to entertainment and mobile financial services.
In Paraguay, they have been offering mobile financial services for over 18 months and, in the last quarter of 2011, around 20 per cent of their customers used these facilities. With the addition of cross-border mobile money transfer services which they will soon provide in conjunction with Western Union, they aim to bring additional benefits to a growing number of their customers in Latin America.
Specific services under this agreement will vary by country, but over time, Tigo customers in most of Millicom’s Latin American markets will be able to receive money from Western Union customers directly into their mobile accounts. They will also be able to cash out transactions at any Tigo location offering the Giros Tigo facility.
Western Union offers its Mobile Money Transfer service in Bangladesh, Canada, Kenya, Madagascar, Malaysia, the Philippines, Tanzania and the U.S.
Millicom offers Mobile Financial Services and in particular in-market money transfers in Paraguay, El Salvador, Guatemala, Honduras, Tanzania, Ghana and Rwanda and will extend its offering to more services and into more markets over time.
Millicom Ghana Launches Tigo Cash
Millicom Ghana, operators of Tigo Cellular Network has launched a mobile money service that will enable Tigo subscribers to send, receive, top up airtime, pay bills, as well as make purchases, using their mobile phones. Banks partnering for this services includes the Agriculture Development Bank (ADB), the United Bank for Africa (UBA), Ecobank and the Fidelity Bank.
According to Mr Kwesi Donkor, Commercial Manager of Tigo, the introduction of the Tigo Cash service was necessitated by the fact that, about eight, out of ten persons, did not have access to bank account in the country, especially those in the rural areas.
As per Mr Percy Gondi, Head of Innovation, Tigo, the introduction of the product was a milestone for Tigo, as it blended banking with technology and also deepens financial access to more customers.
Mr Franklin Donye, representative of the Bank of Ghana, appealed to all the cellular networks in the country, which were involved in mobile money, to educate their customers on the service, in order to avoid fraud. According to him, the bank would come out with rules and regulations concerning the mobile money transfer for telecommunication companies in the country.
Tigo’s subscriber base for Tigo Cash reaches 150,000 mark (Paraguay)
Tigo, Paraguay based mobile operator reaches a mark of 150,000 for its electronic payment system Tigo Cash. The following service enables the subscribers to make payments, recharge their accounts or withdraw money. According to Tigo marketing manager Karina Martincich, Millicom is piloting Tigo Cash in Paraguay ahead of a worldwide launch. Millicom also announced that Tigo Cash will soon work at the major supermarket chains in the country, as well as service payment chains and remittances firms.
