Financial Inclusion

Vodafone Launches Real-Time M-Pesa Money Transfers

Shutterstock

Vodafone and TransferTo, a company specializing in international airtime credit and mobile money transmissions, said Wednesday (Feb. 17) that they are working together to enable real-time global money transfers via M-Pesa Mobile Money accounts around the world.

The partnership will aim to facilitate the ability to send money to multiple M-Pesa accounts, in real time, while also helping consumers to enjoy a faster and easier process overall.

“We are delighted to be partnering with TransferTo to enable real-time money transfers to M-Pesa users,” Michael Joseph, M-Pesa director at Vodafone Group, said in a press release.

“TransferTo has the global reach, network of partners and assured compliance required that we need as we continue to rapidly scale international money transfers with financial institutions and mobile operators worldwide, enabling our users to receive funds from even more countries globally,” Joseph continued.

According to Vodafone, the TransferTo Mobile Money Hub serves as a dedicated, scalable and fully compliant solution that has the ability to reach millions of M-Pesa users via a single connection.

Eric Barbier, CEO of TransferTo, said: “We are absolutely thrilled to be partnering with the Vodafone Group to enable more people to benefit from Mobile Money services. Mobile Money has the power to drive greater financial inclusion globally, transforming the lives of the 2 billion people who are currently ‘unbanked’ today. By making it faster and easier for consumers to send money to multiple M-Pesa accounts, we are giving M-Pesa users greater freedom to spend and receive money, while accelerating the growth of Mobile Money accounts worldwide.”

——————————–

Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. In the November 2019 AML/KYC Report, Zillow’s Justin Farris tells PYMNTS how the platform incorporates stringent authentication without making the onboarding and buying experiences too complex.

TRENDING RIGHT NOW