By Abdul Rahman Suagibu –
NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- Leading digital money transfer service World Remit extends its rapid exploration in Africa by launching a new international mobile money services through a partnership mobile money services with pan- African fintech- MFS Africa.
This launch brings World Reunit’s mobile money service to five new countries via Airtel in Malawi and Niger, Orange in Madagascar, Vodacom in Mozambique and MTN in Guinea. World Reunit’s mobile – first digital model saves customers time and money as it entirely shift the need to visit a money transfer agent to send funds home to their loved ones. Using the World Reunit app or website, the Diaspora living in over 50 countries can now send instant low-cost money transfers at any time to 15 million mobile money users across the five countries. World Reunit is the leading digital remittance company connected to 190 million mobile money accounts globally. With this new pronouncement World Reunit is connected to 39 mobile money services in 29 countries. Almost half of its transfers to Africa go to mobile money services.
MFS Africa in Africa’s largest digital payment hub, connecting over 180 million mobile wallets on the continent. Through a single API MFS systems, banks money transfer operators and merchants to enable real-time cross-border and cross- network transaction.
MFS Africa Dare Okoudjou said, “Our mission at MFS Africa is to bring down the costs of remittances into and within Africa, and we achieve that by converging the power of mobile money and digital payments. World Reunit is known as a leader among the new generation of digital first money transfer operators, and we’re thrilled to be a partner in their expansion strategy. We are looking forward to growing our networks together to help reach more users with more affordable and accessible remittance services”.
According to the World Bank, remittances to Sub-Saharan African increased by over 9.6% from 2017 to 2018, reaching $46 billion. However, the region is still the most expensive in the world to send money to with an average cost of 9.3%. Andrew Steward, Managing Director of World Reunit for the Middle East and Africa comments, “World Reunit is committed to supporting financial inclusion across Africa by enabling the unbanked populations to receive money directly into their mobile wallets, without the need to for a bank account. Our partnership with MFS Africa helps us accelerate our financial inclusion mission while expanding our footprint across the continent.
Our best in class service offer convenience and peace of mind to over four million customers worldwide. Over90% of World Reunit transactions are authorized within 10 minutes and customers can track their money’s journey in real-time using our “Track your Transfer Function.
For New Africa Business News Abdul Rahman Suagibu Reports, Africa Correspondent
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