November 11, 2019 All Things Fintech in Africa

MTN Mobile Money Wallet Users Can Transfer through Western Union Directly

Cross-border transfer has been made easy with the new launch of western union on MTN mobile money wallet.  In this partnership between MTN and Western Union, the number one leading cross-border currency movement and the leading telecommunications service provider, is to enable customers in Ghana to receive Western Union transfers into their MTN money wallets.

Over 14 million MTN mobile money wallet users can access western union directly with a just a few clicks.  Customers can receive money  using western union digital products and the Agent retail network across the world.

Why MTN mobile wallet and Western Union are together

Ghana is one of the top West African countries with tremendous growth in registered mobile money accounts. This partnership means a seamless money transfer across MTN mobile money channels. It is fast emerging market in a cross-border currency transfer with diverse customer preferences and needs.  With this collaboration, customers in Ghana who own MTN mobile money can choose from multiple pay-out options into their MTN mobile money wallet or at a Western union agent location. The digital service basically allows a large number of incoming remittances to Ghana, from the comfort of their home or office.  In addition to this digital service launch, customers can access the existing in store money transfer service from a large network of agent locations across the country.

How it works

According to the Central Bank of Ghana regulations, customers are expected to register their MTN mobile money with a valid National ID for verification.

  • Hence, after registration, customers can conveniently receive Western Union money transfers into their MTN Mobile Money Wallet.
  • Consumers can receive up t0 $1500 Ghanaian Cedis equivalent per day.
  • Once a transfer has made and funds deposited into the wallet, customers will receive an SMS confirmation and notified of their total balance.
  • For a user to receive in local currency physically, they have to go to over 135,000 MTN mobile Money agent locations and over 200 partner banks ATM for a cardless withdrawal.

 

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