July 12, 2020 All Things Fintech in Africa

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

Safaricom has partnered with Ria Money Transfer, to empower more than 26 million M-PESA customers to receive international money transfers from over 20 countries across the world.

The Partnership will allow MPESA customers to send and receive cash instantly.

Chief Executive Officer Michael Joseph in a statement said this will make it convenient for M-PESA customers to access cash instantly across the world.

“This partnership will further increase the value we provide to our customers by offering them more choice and the power to receive transfers directly into their M-PESA accounts,” said Joseph.

M-PESA has been growing as a preferred remittance channel especially by Kenyans in the diaspora looking to send money to their families back home

The payment landscape of Safaricom subscribers has changed significantly. This follows a money transfer partnership between the mobile phone operator and Ria Money Transfer, a subsidiary of Euronet Worldwide. This new partnership will enable over 26 million Mpesa subscribers to receive money from international sources using the Ria network, from over 20 countries across the world.

The countries signed up in the program are; Colombia, Dominican Republic, El Salvador, Ghana, India, Mexico, Nigeria, Philippines, Senegal and Togo. Other M-PESA’s International Money Transfer (IMT) partners include Post Finance, World Remit, Western Union, Skrill, and SkyForex.

 

Using M-PESA global service, M-PESA registered customers are able to send and receive money globally. They are able to send funds to millions of Bank accounts globally. Through PayPal, Mpesa customers can access funds quickly and shop around the world with PayPal mobile money service and M-PESA.

 

The minimum amount to send globally is KSh 101 and maximum of KSh 70,000. The recipient will receive funds in their country’s currency.

 

Safaricom says the service will be available all of MPESA users who currently stand at over 26 million.

 

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