MTN Rwanda and MFS Africa today announced the launch of an online money transfer service that enables MTN Mobile Money customers to receive international remittances directly on their mobile phones.
MTN is a global communications company and cellular provider, focused on the Africa and the Middle East.
MFS Africa (Mobile Financial Services Africa) connects money transfer operators, remittance hubs and banks to mobile wallet schemes across Africa. They also run web-based money transfer services on a white label basis.
The website for the new online money transfer service is MTNMMO.COM.
Rwanda has large populations living overseas. Millions are in other African nations, and many more are in Europe and the United States. In fact, the Rwandan government even has a ministry (the Diaspora General Directorate) dedicated to serving the needs of the Rwandan diaspora.
Naturally, these millions of Rwandan emigrants need an easy way to send money home to their families in Rwanda.
With this new service, senders from outside Rwanda can now register on the website MTNMMO.COM and send funds from their debit card or bank transfer via the internet to Rwanda by simply entering a beneficiary’s mobile phone number. Funds are delivered immediately to the beneficiary’s Mobile Money account in Rwanda.
Mobile Money has already been offering this money transfer service within Rwanda itself. Now the service has been extended to senders overseas.
“Making the connection to MTNMMO.COM to enable international remittances together with MFS Africa was high priority for us to better serve our customers, understanding their need to use their Mobile Money accounts to receive money from abroad,” said Albert Kinuma, head of MTN Business. “We will continue to add new services to MTN Mobile Money, and grow our agent network, now standing at over 700 agents across Rwanda. With MFS Africa as a partner, we look forward to introducing additional products to Mobile Money in the near future.”
Auke Algera, the General Manager East Africa at MFS Africa said MTNMMO.COM is the first product being launched in Rwanda by the company. “The service extends the benefits of Mobile Money to the Rwandan Diaspora,” he explained. “We established ourselves in Rwanda because we are committed to deploying a range of innovative financial products for mobile money providers in the region.”