Category Archives: Mobile Remittance

Daily mobile transactions rise to $71m in Kenya

Kenyans are transacting Sh6.2 billion ($70.49m) daily through mobile phones, Central Bank of Kenya has said. This is a rise from an average of Sh5.2 billion last year, underlining growing confidence in mobile money and cashless transactions. “The growth has been phenomenal.  It has become an important platform for financial services,” said CBK governor Njuguna Ndung’u in a recent presentation ...
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The rise of mobile wallet-to-wallet cross-border remittance services

New MNO wallet-to-wallet international remittance services have launched over the past few months. Until recently in the mobile money industry we have seen a number of MNOs partnering with traditional MTOs (money transfer operators) to facilitate international remittance payments. But now breaking away from this mould are new services recently launched by Tigo, Orange, MTN and Airtel across Sub-Saharan Africa, ...
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Mobile money use on the rise in Africa

Despite the slow take off of mobile money services in West Africa relative to other regions on the continent, operators in the area are beginning to report signs of success. Last month, Orange confirmed the 10 millionth customer for its mobile money service, which started in 2008 and is now available in 13 countries, five of which are in West ...
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Fidor signs Ripple for P2P money transfers

Fidor Bank has become the first the bank in the world to utilise the Ripple protocol for sending real-time money transfers. San Francisco-based Ripple offers a decentralised order book relying on open-source peer-to-peer payment protocols to speed the transfer of financial information. Fidor plans to use the Ripple network to provide customers with faster and more affordable money transfer services ...
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Orange celebrates the 10 millionth Orange Money customer

Orange Money has seen exponential growth since it was launched. The service is now available in 13 countries: Botswana, Cameroon, Côte d’Ivoire, Egypt (under the name Mobicash), Guinea, Jordan, Kenya, Madagascar, Mali, Mauritius, Niger, Senegal and Uganda. In 2013, more than €2.2 billion in transactions were conducted through Orange Money. The 10 million mark has just been hit, and in ...
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African mobile money revenues to hit $3 billion

Mobile Money operators’ revenue will rise to $3 billion by 2015, a study by Pyramid Research has shown. Although Safaricom’s M-Pesa in Kenya has long been the lone success story in the mobile money universe, successes are being recorded in Nigeria, Uganda and Tanzania with similar mobile money offerings. MTN Uganda’s Mobile Money service accounts for 3% of all airtime ...
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M-Pesa mobile money transfer goes global with MoneyGram deal

Safaricom’s push to take its mobile money transfer business global ha s received another boost with the signing of a deal that will see users of MoneyGram send cash directly to M-Pesa customers from any part of the world. The deal, signed by Vodafone – Safaricom’s majority shareholder – will allow users of MoneyGram in about 200 countries to send ...
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Live @ MWC: GSMA report shows active mobile money users reached 61 million

The GSMA’s Mobile Money for the Unbanked (MMU) programme released its third annual Mobile Financial Services State of the Industry Report, providing a quantitative assessment of the state of mobile financial services, including mobile money, mobile insurance, mobile credit and savings. The report draws on the results of the annual MMU Global Adoption Survey, as well as on data from ...
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EcoCash mobile money platform process $200 million per month

ECONET Wireless says that more than $200 million is now being transacted per month through its mobile money platform, EcoCash, helping ease the country’s cash constraints and aiding growth of the carrier. “There’s no question that EcoCash is filling a basic consumer need in one of Africa’s countries, where a great deal of the population has been excluded from the formal ...
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Mobile money transfer still undergoing growing pains

Since entering the public domain, mobile money transfer using the phone platform, has almost lit up the airwaves. Paperwork is at the minimum and speed is usually counted in minutes. This is the kind of service business people and especially small traders appreciate since banks intimidate them. Uganda currently has eight registered telecom companies and practically all are involved in ...
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