March 29, 2012updated 04 Apr 2017 4:14pm

Uganda: Western Union, MTN start m-money transfer service

Western Union has acquired another partner in its expansion into the mobile money transfer market: It has teamed up with MTN in Uganda and the two companies are going to initiate cross-border payments, both for sending and receiving, via mobile handsets. MTN has more than 2m customers registered on its Mobile Money service in Uganda and operates in another 11 markets, including , Cote dIvoire, Cameroon and Rwanda.

By Duygu Tavan

Western Union has acquired another partner in its expansion into the mobile money transfer market:

It has teamed up with MTN in Uganda and the two companies are going to initiate cross-border payments, both for sending and receiving, via mobile handsets.

MTN has more than 2m customers registered on its Mobile Money service in Uganda and operates in another 11 markets, including , Cote d’Ivoire, Cameroon and Rwanda.

Funds that are sent via Western Union’s system will now be directly received into a MTN Mobile Money account. MTN Mobile Money users will also be able to send money via Western Union.

The two companies said they will look into launching the service elsewhere in Africa as well.

Diane Scott, executive vice-president, chief marketing officer and president, Western Union Ventures, said:

“Our network of nearly half a million locations, our experience in moving money across borders, and our relationships with the world’s most successful mobile operators such as MTN, ideally position us to introduce many people to cross-border financial services.

“Our mobile money transfer service will unlock new economic opportunities for thousands of underserved consumers in Uganda, whose financial needs are not being met elsewhere.”