MoneyGram expands mobile money choices in Africa

MoneyGram, a global provider of innovative money transfer and payment services, and Vodacom, the leading telecom company in Tanzania, has announced that Vodacom subscribers can now receive money directly into their M-Pesa accounts through MoneyGram’s money transfer services.

According to Vodacom, there are more than seven million active M-Pesa users in Tanzania, who currently transact more than two trillion shillings each month.

The new offering makes it easier, safer and faster for Tanzanians living in the diaspora to send money directly M-Pesa subscribers in the country.

The launch was celebrated during a press conference in Dar es Salaam which was attended by Herve Chomel, MoneyGram’s vice president regional sales Africa and Jacques Voogt, Vodacom’s chief officer of M-Commerce.

“MoneyGram is excited to work with Vodacom to provide millions of customers with access to fast, reliable and secure options to send and receive money,” said Chomel.

“Vodacom’s M-Pesa has already helped to increase financial inclusion for millions in Tanzania and this new relationship will make it more convenient for people in the most remote parts of the country to receive money from friends and family abroad.”

He added, “MoneyGram continues to grow throughout Africa as a result of forming strategic relationships with mobile network operators, banks, post offices and retailers, to bring added convenience to our customers.

Presently, MoneyGram operates in more than 200 countries with a network of more than 350,000 locations globally of which 25,000 are in Africa.”

“This new relationship with MoneyGram enables us to tap into the remittances coming into Tanzania every year,” said Voogt.

“It will increase the ease and ability for families and friends to receive money through M-Pesa. This is just one more way we are going the extra mile for our customers.”

M-Pesa subscribers in Tanzania can receive funds from MoneyGram into their mobile accounts from customers in more than 120 countries 24 hours a day, 7 days a week and 365 days a year subject to system availability.

Customers in the United States can send funds to M-Pesa accounts quickly and securely from a MoneyGram location or through MoneyGram Online.

Over 500 organizations have today integrated their payment systems with M-Pesa for collections, disbursement and distributor services.

M-Pesa was enhanced mid-last year to include a saving facility – M-Pawa. Over 1.5 million customers have subscribed to this service with TZS 6.8 billion/- retained in deposits and over TZS 500 million/- disbursed in loans every month.