Customers of MTN Mobile Money and Vodacom M-Pesa in East Africa will be able to transfer money to each other following an agreement between MTN Group and Vodafone Group to interconnect their mobile money services.
This interconnect deal enables international mobile payments between M-Pesa customers in Kenya, Tanzania, the Democratic Republic of Congo, and Mozambique; and MTN Mobile Money customers in Uganda, Rwanda and Zambia.
“Our agreement with MTN to connect our mobile money wallets in East Africa is a fantastic example of co-operation and interoperability between competing mobile operators,” said Vodafone’s Michael Joseph.
“By working together, we will deliver cheaper, faster money transfers, improving the lives of many people living in the seven countries involved.”
“Together, we aim to build a scalable model that will accelerate remittance roll-out across the continent,” said MTN Group head of mobile financial services Serigne Dioum.