MTN launches Mobile Money transfer service

MTN and Western Union announced today (28 March 2012) that they will be launching a mobile money transfer service in Uganda that makes use of MTN’s Mobile Money accounts.

The new service will allow MTN customers to send and receive money across borders by using only their mobile phones and Mobile Money accounts.

MTN customers will be able to receive money into their MTN Mobile Money accounts from senders who use the Western Union system – which operates in over 200 territories.

Users will then be able to send money internationally directly from their Mobile Money accounts.

“MTN Mobile Money has seen great success in Uganda,” said Christian de Faria, MTN Group Chief Commercial Officer.

“We currently have more than 2 million Mobile Money customers, and we continue to grow exponentially. By joining forces with Western Union, our customers can now receive funds directly in their MTN Mobile Money accounts quickly and easily.”

To accompany the launch, Western Union also announced that they would be providing 9,000 branded “yellow phones” to Ugandans, for give-away via various promotions in the country.

“Our mobile money transfer service will unlock new economic opportunities for thousands of under-served consumers in Uganda, whose financial needs are not being met elsewhere,” said Western Union Venture’s president and chief marketing officer, Diane Scott.

“By deploying these powerful tools for sending and receiving funds – particularly in areas lacking financial infrastructure – Western Union and MTN are helping to create more self-sufficient local economies.”

MTN has already deployed its Mobile Money service in 12 markets, including Ghana, Cote d’Ivoire, Cameroon and Rwanda, and plans to work with Western Union to expand the transfer service where Mobile Money is offered.

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MTN launches Mobile Money transfer service