- The new collaboration will mean that Airtel Money wallet holders will be able to access MoneyGram services in various ways.
- More than 10 African countries will be included in the scheme – though it is currently still awaiting the go-ahead from regulators.
- “We’re excited about how this customer-centric partnership with Airtel will expand our mobile wallet capabilities,” said a senior MoneyGram figure.
One of the world’s leading international money transfers companies has announced that it will work alongside a telecoms firm in Sub-Saharan Africa.
MoneyGram said that it would launch a collaboration with Airtel Africa to provide cash transfer services in more than 10 countries across Africa.
As part of the new arrangement, users of Airtel Money will be able to access MoneyGram cash transfers wherever they are.
These will go directly to their Airtel Money wallets, which are already in existence and available to create.
From there, the user will be able to send this cash on to others or use it to settle fees for utility bills or other essential costs of living.
While the main access mode for the new product offering appears to be online, the firms also said that users can take out cash from an in-person Airtel provider.
In a statement, John Gely, who is the head of MoneyGram Africa, explained just what level of scale and reach the new partnership would offer to customers.
“This partnership with Airtel will enable millions of consumers instant access to our global platform to receive money from over 200 countries & territories without having to even step outside,” he said.
“We’re excited about how this customer-centric partnership with Airtel will expand our mobile wallet capabilities, build upon our strong momentum in Africa, and further accelerate our digital growth across the globe,” he added.
Despite the announcement from the firms, it was also reported that the new arrangement has not yet been given the green light by regulators.
A launch date is expected to be announced once the green light has been given.
Sub-Saharan Africa has long since been a key target market for a number of firms in the cross-border payments industry, and MoneyGram is no exception.
It makes sense, especially given that several African nations feature in the top half of a list of countries arranged by received personal remittances despite the continent being one of the world’s poorest.
However, it is interesting to note that MoneyGram and Airtel appear to be still awaiting regulatory approval before they can launch this particular aspect of their product offer.
Presumably, though, the two firms are confident that this will be granted given that they have now made the announcement about their plan – both to customers and to their owners.
If you would like to find out more information about the latest goings-on in the online money transfer world and news on what these firms are up to, why not visit our news hub to read some more articles?
