Western Union powers M-PESA mobile wallet for global money transfers

Tuesday 6 November 2018 14:40 CET | News

Safaricom and Western Union have teamed up to unlock global money transfers for more than 28 million mobile wallet holders, by leveraging Western Union money movement platform.

M-PESA mobile wallet holders will be able to send money globally with the activation of M-PESA Global, powered by Western Union. They can use funds from their wallet to send money for payout across Western Union retail Agent network in more than 200 countries and territories or directly via Western Union’s access to billions of accounts.

M-PESA’s enables millions of Kenyans to receive money from abroad, store and send money or make payments locally, leapfrogging traditional infrastructure. Wallet holders already have the option to receive money from around the world via Western Union.

Safaricom has helped millions of Kenyans establish financial services on mobile wallets within Kenya. According to the press release, more than 1.7 billion transactions are processed over M-PESA annually, equivalent to more than 50 percent of Kenya’s GDP value.

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Keywords: Western Union, Safaricom, M-Pesa, mobile wallet, money transfer, Africa
Countries: World