- Safaricom’s M-PESA is used by over 28.6 million customers in Kenya
- WorldRemit and Safaricom’s partnership will make sending money back to Kenya a lot easier
- Remittances to Kenya have been growing over the years
With remittances from Kenyans living abroad amounting to $210.36m per year based on April 2018 estimates, international money transfer brand WorldRemit has entered into a partnership agreement with Safaricom to grab a slice of the growing market.
According to reports, the partnership will make it possible for Kenyans to send cross-border payments to M-PESA accounts at home, allowing recipients to receive cash directly in their mobile money accounts or execute a cash pick up.
The WorldRemit-Safaricom partnership deal will also allow senders to deposit directly to the bank accounts of loved ones and friends. Money can even be sent as airtime.
M-PESA has been part of the Kenyan mobile money ecosystem since 2007 and it has seen the growth of international money transfers to the country.
In an interview, Safaricom’s Director of Financial Services Sitoyo Lopokoyit said: “Every day, M-PESA empowers more than 28.6 million customers with diverse financial capabilities to send and receive money, and to make seamless payments. Partnerships have been the cornerstone of this transformation and we are glad to have WorldRemit as a key partner to provide our customers with a world-class remittance experience.”
Head of East & Central Africa at WorldRemit Sharon Karuga Kinyanjui went on to say that the direct assimilation with Safaricom has arrived as both companies appreciate the remarkable upsurge in international remittances to M-PESA accounts, as well as WorldRemit’s commanding market position with respect to conducting mobile payments.
“Our partnership will enable us to work even more closely to serve customers abroad and back home in Kenya, offering its 3 million strong diaspora access to our best in class money transfer experience.”
For more information about WorldRemit, take a look at this link.
