International cross-border mobile money transfer services have been introduced in a deal agreed between MTN, a multinational telecommunications company, and Western Union, a global money transfer service provider.
The service will be first introduced in Uganda where MTN’s Mobile Money service boasts of over one million users, a statement from MTN headquarters in South Africa said.
The two companies announced on Wednesday a commercial agreement to introduce international mobile money remittance services in countries, where MTN Group operates.
They said in a statement, Uganda is one of the countries with the most successful mobile money transfer service in the world.
The statement said when the new international remittance service is activated; MTN subscribers registered for MobileMoney will be able to receive Western Union Money Transfer transactions on their mobile accounts. In addition, MobileMoney users in certain countries will be able to send money directly from their mobile phones for payout at one of Western Union’s 386,000 agents in 200 countries.
An MTN subscriber, who receives a Western Union Money Transfer transaction in his MobileMoney account, will be able to use the funds to pay bills, top-up airtime, send money domestically and internationally, or withdraw cash at MobileMoney Agents or any participating ATM.
