Western Union and MTN Uganda launch Mobile Money transfer service (Uganda)
The Western Union Company and MTN Group have announced the launch of a mobile money transfer service in Uganda, allowing MTN customers to send and receive money across borders using just their mobile phones for the first time.
The service marks the debut of an offering from Western Union that allows the more than 2 million customers of MTN’s mobile money transfer service, Mobile Money, in Uganda to add funds to their accounts that were sent through Western Union’s system. Senders send the funds as they normally would – either in-person at 450,000 Western Union Agent locations in 200 countries and territories, from www.westernunion.com in 22 countries or directly from a bank account in select countries. The receiver of the funds simply chooses to pull the transaction into a MTN Mobile Money account.
The new service also enables MTN customers to send money internationally with Western Union directly from their Mobile Money accounts for cash payout at Western Union Agent locations worldwide or to subscribers of select mobile phone companies with which Western Union has agreements.
Western Union and MTN also announced today that they will provide 9,000 branded mobile ‘Yellow Phones’ to Ugandans. Customers who receive these phones must already have an active MTN Mobile Money account or sign up for one in order to use the new remittance service. The phones will be given away via ongoing promotions throughout Uganda over the next few months.
Diane Scott, Executive Vice President, Chief Marketing Officer and President, Western Union Ventures, said that Western Union is changing quickly and they are leading the way in bringing international remittances to mobile subscribers around the globe. Further, their network of nearly half a million locations, their experience in moving money across borders, and their relationships with the world’s most successful mobile operators such as MTN, ideally position them to introduce many people to cross-border financial services.
Scott also said that the mobile money transfer service will unlock new economic opportunities for thousands of underserved consumers in Uganda, whose financial needs are not being met elsewhere. By deploying these powerful tools for sending and receiving funds – particularly in areas lacking financial infrastructure – Western Union and MTN are helping to create more self-sufficient local economies.
Christian de Faria, MTN Group Chief Commercial Officer, said that MTN Mobile Money has seen great success in Uganda. They currently have more than 2 million Mobile Money customers, and continue to grow exponentially. By joining forces with Western Union, customers can now receive funds directly in their MTN Mobile Money accounts quickly and easily. MTN looks forward to expanding this offering in new countries with Western Union.
MTN has deployed its Mobile Money service in 12 markets, including Ghana, Cote d’Ivoire, Cameroon and Rwanda. Following the launch of the Mobile Money transfer in Uganda, MTN and Western Union plan to introduce the service in other countries where Mobile Money is offered, and where regulation permits international remittance.
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.
Western Union introduces first money transfer service(UAE)
Western Union has signed an agreement with Emirates NBD to launch Western Union’s Account-Based Money Transfer (ABMT) service for the first time in the UAE.
The service offering will enable all Emirates NBD account holders to send money domestically and internationally, through all banking channels. The ABMT service will be available to all Emirates NBD customers through internet banking facilities and ATMs as well as mobile money transfer.
Account holders will be able to send money from their accounts for pay out at any Western Union Agent location in over 200 countries and territories.
Safaricom expands M-pesa mobile money transfer service in Africa
Safaricom, East Africa’s largest mobile operator, is expanding its M-pesa mobile money transfer service across Africa, a move likely to increase competition for mobile money-transfer services in the region.
The launch of the mobile money transfer service by Safaricom comes less than two months after MTN and Western Union partnered to introduce international remittance services in 21 countries where MTN has a presence.
Meanwhile, the Zap service operated by Bharti Airtel has also been expanding steadily over the past year. MTN’s mobile money transfer already boasts over 1 million registered customers in Uganda alone.
The launch of the service by operators is threatening the continued existence of traditional money transfer services. Most Africans are now using mobile financial services to buy goods, pay utility bills, buy mobile airtime as well as receive funds from abroad.
The M-pesa service is currently available in Africa and the Middle East including South Africa, Kenya, Tanzania and Afghanistan and is currently being piloted in India.
Former Safaricom CEO Michael Joseph who chairs the board of directors of both Safaricom and Vodacom is expected to lead the expansion of the M-pesa service across Africa. Vodafone owns 65 percent stake in Vodacom Group, based in South Africa. Joseph was instrumental in making M-pesa a success when he was at the helm of Safaricom and is expected to drive the regional expansion program. The M-pesa mobile commerce was launched by Safaricom in 2007 and has since been expanding, with more than 13 million subscribers at this point.
Western Union, MTN to launch Cross-Border Mobile Money Transfer Service (South Africa)
MTN and Western Union has announced a deal to introduce Cross-Border Mobile Money Transfer service in 21 countries.
The service will allow MTN subscribers to send and receive Western Union Money Transfer transactions using their MTN Mobile Money accounts. Additionally, Mobile Money users in certain countries will be able to transfer transactions directly from their mobile phones for payout at one of Western Union’s 386,000 Agent locations in 200 countries and territories around the world.
The service will first be introduced in Uganda, where MTN’s Mobile Money service already holds over 1 million registered users. According to the World Bank, Uganda receives nearly US$500 million in remittances every year, making up 3% of the country’s GDP.
The mobile money will not just help the users in transferring money but will also help them to use the funds to pay bills, top-up airtime, send money domestically and internationally, or withdraw cash at Mobile Money Agents or any participating ATM.
According to Khalid Fellahi, Western Union’s Head of Mobile Transaction Services, the Western Union Mobile Money Transfer service is a key part of the company’s multi-channel strategy to offer consumers numerous ways to send and receive money. This alliance with MTN – one of the world’s most successful mobile operators – will introduce cross-border remittances to an entirely new segment of customers by allowing them to send and receive money using just their mobile phones.
MTN’s Mobile Money service is currently available in Benin, Cameroon, Ghana, Guinea-Bissau, Ivory Coast, Rwanda, South Africa and Uganda, with pilots underway in several other markets.
Western Union collaborates With SBI to Launch Mobile Money Transfer in India
Western Union has collaborated with State Bank of India (SBI) to provide accountholders with cross-border money transfers via mobile phones. In July, Western Union announced the introduction of the Account-Based Money Transfer (ABMT) service which will be launched in early 2011. This service will facilitate SBI customers with online bank accounts to pull a Western Union Money Transfer directly into their accounts via Internet or ATM.
According to Anil Kapur, Western Union’s Senior VP (South and Southeast Asia), India is the world’s No. 1 remittance recipient country, and according to World Bank figures, has received US$52 billion in 2009. Currently, consumers can send Mobile Money Transfers from nearly 70,000 Western Union Agent locations in 25 countries.
Western Union has 61,000 locations in India, and the mobile transfer partnership will allow it to expand its distribution within India using SBI’s network. Western Union already has a partnership with SBI, with over 12,000 SBI branches offering Western Union Money Transfer service.
SBI has 110 million accountholders, of which more than 4 million are registered for online banking.
Western Union also offers the Mobile Money Transfer service in the Philippines with Smart Communications and Globe Telecom; in Kenya with Safaricom; in Malaysia with Maxis; and in South Africa with Absa Bank.
The company also announced an agreement with EnStream in Canada and has agreements with Tunisian Post and Bank of Commerce & Development (BoCD) in Libya. In addition, Western Union previously announced an alliance with Zain (Airtel) in Africa.
M-Pesa launches in UK (Kenya)
Vodafone’s group company, Safarikom has launched m-pesa, it’s mobile money transfer and payment service at selected outlets in the UK.
Kenyans in the UK can now send money to their friends and family in Kenya through M-pesa UK, direct to their mobile phone wallets.
Western Union, Provident Capital Transfers and KenTv were involved in a small pilot before the commercial launch of this service. A total of 19 outlets with high local kenyan population were selected to trial this service.
To send money using M-PESA, the sender in UK will be required to identify themselves and furnish the agent with the recipient’s name, Kenyan mobile number and the amount being sent in Sterling Pounds. This will be converted at current rates and sent in Kenyan Shillings. Neither party is charged a registration fee.
A transaction fee ranging from £4 to £6.90 will be charged though.
Following authorisation by the Central Bank of Kenya, Safaricom shall be increasing the locations in the UK from which money can be sent to M-pesa customers as well as launching services across other popular remittance corridors
Currently, the maximum amount that can be sent internationally per transaction through M-pesa is £250 while the total allowable per month from a single sender in the UK is £1,000.
The successful take-up of M-PESA in Kenya has clearly demonstrated the demand for easily accessible, secure cash payment services in emerging markets,†said Nick Hughes, Vodafone’s Head of International Mobile Payments. Our partnership with Western Union allows M-PESA subscribers to receive international remittances and builds on the demand we have already seen domestically in Kenya.â€
This program aligns a global leader in money-transfer services, the world’s largest mobile operator group, and arguably one of the most impressive success stories in mobile money,†said Matt Dill, Senior Vice President, Western Union Digital Ventures. In offering M-PESA users the opportunity to receive funds from abroad for the first time, these three companies are changing the way money moves around the
globe.â€
Safaricom CEO Michael Joseph said: We wish to invite Kenyans living in the UK to take advantage of this service, which presents a real innovation on our M-pesa menu. Through strategic partnerships with Western Union, Provident Capital and KenTV we are giving them an opportunity to convert across two currencies into M-pesa and send money affordably without any hidden costs directly to the mobile phone of the recipient.â€
Western Union, GSMA to create mobile money transfer service
The GSM Association and money transfer services specialist The Western Union Company have announced an agreement to facilitate the development of cross-border mobile money transfer services. Western Union and the GSMA are developing a commercial and technical framework that mobile operators can use to deploy services that enable consumers to send and receive low-denomination, high frequency money transfers using mobile phones. The Western Union mobile service will connect operators to Western Union’s existing global money transfer system. Once connected to the Western Union service, operators will be able to use their own mobile wallet software to enable person-to-person mobile money transfers over Western Union’s cross-border remittance network. The Mobile Money Transfer service will enable consumers to transfer money to or from mobile wallets and will offer a global network of Western Union Agent locations for cash-to-mobile and mobile-to-cash transactions. Thirty-five GSMA operators are participating in the GSMA Mobile Money Transfer programme. The first commercial services that make use of the framework are anticipated to be rolled out in the second quarter of 2008.
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