Following this announcement, Revolut extended its international transfers feature Mobile Wallets with 14 new payment corridors, as well as 9 countries, and 3 digital wallets: Airtel, Orange Money, and MTN. The company is expected to build a secure and strong economic tie between Europe and Africa.
In addition, Revolut will focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industries.
Throughout this initiative, Revolut is set to enable clients and customers in the region of the UK and most European countries (EEA) to send money quickly, securely, and easily to African countries. This includes Orange Money to Botswana, Guinea-Bissau, Côte D'Ivoire, Madagascar and Sierra Leone, with Airtel Money to Congo, Gabon, Madagascar, Malawi and Zambia, and with MTN to Guinea-Bissau, Côte D'Ivoire, Congo, and Zambia.
As Mobile Wallets was developed in order to change the remittance experiences by offering a low-friction, intuitive, and efficient procedure, users will be enabled to send money abroad in a quick manner by using only recipient IDs, such as their name, their phone number, or email addresses. In addition, Mobile Wallets reduce potential risks associated with some traditional payment solutions, including the process of funds being sent to the wrong account details or money being stuck with banks.
Revolut will continue to focus on its strategy of adapting to the evolving needs of the digital economy, while also providing its expertise and product portfolio in order to give individuals and families around the world the possibility to navigate the complexities of cross-border finance easily and securely.
In addition, Revolut customers can leverage Mobile Wallets in order to send money to 4 different wallets, M-Pesa, Airtel, Orange Money, and MTN, all being used across 10 countries in the region of Africa. Clients will have the possibility to send funds to Orange Money, Airtel, and MTN directly from their Revolut application, offering a mobile payment option for expats international individuals and students who live abroad.
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