M-Pesa customers will be able to transfer funds to 200 countries worldwide using MoneyGram’s new iPhone, Android and Windows Phone 8 app
An agreement between Vodafone and Moneygram will allow customers to to send money virtually to millions of M-Pesa users in around 200 different countries, from the second quarter of 2014. Additional roll-outs are planned later in the year, expanding the number of markets available.
M-Pesa is a virtual service allowing customers to deposit, withdraw and transfer money quickly and easily, and as of last year it reported over 16 million customers worldwide. Those customers make over €90 million worth of transactions every month.
Michael Joseph, Vodafone Director of M-Pesa said: “There is huge demand for sending funds back to family and friends in your home market and an estimated $90bn2 per year is transferred to M-Pesa markets from around the globe. Our partnership with MoneyGram provides the most extensive global network and greatest number of access points for consumers wishing to transfer funds to M-Pesa users.”