MTN Enables International Money Transfers with Western Union
The service allows MTN customers to add funds to their accounts that were sent through Western Union's system. Senders send the funds as they normally would. The receiver of the funds simply chooses to "pull" the transaction into a MTN Mobile Money account.
The new service also enables MTN customers to send money internationally with Western Union directly from their Mobile Money accounts for cash payout at Western Union Agent locations worldwide or to subscribers of select mobile phone companies with which Western Union has agreements.
Western Union and MTN also announced today that they will provide 9,000 branded mobile "Yellow Phones" to Ugandans. Customers who receive these phones must already have an active MTN Mobile Money account or sign up for one in order to use the new remittance service. The phones will be given away via ongoing promotions throughout Uganda over the next few months.
"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," said Diane Scott, Executive Vice President, Chief Marketing Officer and President, Western Union Ventures.
MTN has deployed its Mobile Money service in 12 markets, including Ghana, Cote d'Ivoire, Cameroon and Rwanda. Following the launch of the Mobile Money transfer in Uganda, MTN and Western Union plan to introduce the service in other countries where Mobile Money is offered, and where regulation permits international remittance.
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