May 29, 2020 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.

 

Banner
Related Posts

Hollaport Launches in Lagos, Announces its Plan to Deepen Financial Inclusion

July 12, 2019

July 12, 2019

Kabiru Rabiu of BUA Group Launches Hollaport App Kabiru Rabiu, Group Executive Director of Bua Group, a leading Nigerian conglomerate...

  How to go Cashless with Paga

March 29, 2020

March 29, 2020

 For frequent cash users who are more comfortable with the traditional payment systems, going cashless have built up a sort...

Online Payments Spike up in South Africa After COVID Lockdown

April 1, 2020

April 1, 2020

On Thursday March 25th, President Cyril Ramaphosa announced a 3-week lockdown , to curb the spread.  However, online payments have...

Uber Launches a Financial Product Known as Uber Money

November 28, 2019

November 28, 2019

  Uber, the ride company has announced a new expansion into a financial product which includes a digital wallet and...

Paga Announces a Partnership with Visa

March 18, 2020

March 18, 2020

Paga has partnered with Visa to provide secure and convenient mobile payments solutions. The collaboration will enable Paga and Visa...

Chipper -Cash Expands to Nigeria

October 22, 2019

October 22, 2019

  Introduction:  Chipper-cash, the n0-fee, cross border payment startup has expanded to Nigeria.  It is based in San Francisco, with...

FlutterWave  yet again secures a $35 million series round and a Partnership with WorldPay

January 24, 2020

January 24, 2020

  FlutterWave, a San Francisco and Lagos-based fintech startup has secured a $35 million Series  B round  and a partnership...

SafriCom has partnered with Ria Money Transfer to Improve International Money Transfers through M-Pesa

January 31, 2020

January 31, 2020

Safaricom has partnered with Ria Money Transfer, to empower more than 26 million M-PESA customers to receive international money transfers...

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020

November 14, 2019

November 14, 2019

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020 Nigeria is one of the countries...

World Remit: A FinTech Startup Revolutionizing Money Transfer and Remittance  

April 17, 2019

April 17, 2019 1

World Remit, in short, is money transfer and remittance made easy. Within minutes of transactions, funds are being directly deposited...

PayStack Introduces USD Payouts into Zenith Banks  

December 11, 2019

December 11, 2019 1

Table Of ContentsIntroduction: What’s USDHow Paystack USD settlements works?  Introduction:  PayStack introduced USD settlements which allow Paystack merchants to list...

Eyowo Launches a Retail Banking Tool

December 2, 2019

December 2, 2019

Eyowo, a digital bank, with the  aim  to encourage financial inclusion among every Nigerian by making banking as easy as...

Zazu Raises $1.4m in an attempt to expand their user base

December 11, 2019

December 11, 2019 1

  Zazu fully started as a digital banking space in 2107.  Previously, Zazu was a platform where farms could connect...

JumiaPay: a fintech platform for payments, loans & ticketing

September 5, 2019

September 5, 2019

  Jumia, an e-commerce platform for Africa backed by MTN and Rocket Internet has introduced new features on JumiaPay. The...

GONA Raises Multi-Million Dollar Investment in Nigeria

August 19, 2019

August 19, 2019

What’s GONA? Gona is a payment platform that enables seamless and cashless payment in public buses. The problem Gona is...

Comments
Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.