Vodafone teams up with MoneyGram to expand M-Pesa service

11th Feb 2014 07:07

Vodafone has partnered up with money transfer and payment services company MoneyGram to launch a service that will enable its consumers to transfer funds directly from around 200 countries to users of its M-Pesa service. The service will be launched in key markets during the second quarter of 2014, with additional roll-out planned throughout the remainder of the year.M-Pesa, which allows customers to pay bills and withdraw, transfer and deposit money, is currently available in nine countries, with additional markets to be launched later this year. 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 $90bn 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."Under the agreement, consumers can visit a MoneyGram agent to send funds directly to M-Pesa accounts or transfer money to an M-Pesa user via a mobile or website. NR