Global digital money transfer service WorldRemit has partnered with Vodacom Tanzania to enable its M-Pesa customers to receive money directly to their M-Pesa wallets from friends and family living abroad.
The partnership enables Vodacom customers to receive international money transfers directly to their phones, without the need for a bank account or internet connection.
Tanzanians living abroad in over 50 countries, including the US, UK and Canada, can send money home 24/7 in just a few taps on the WorlRemit App. This saves customers time and money as they do not have to travel to a traditional money transfer agents and pay expensive fees to send money home in cash.
WorldRemit is connected to over 190 million accounts across 30 countries.
Epimack Mbeteni, Vodacom Tanzania M-Pesa Director, said: “This new partnership with WorldRemit enables us to tap into their global payments network, and help customers receive remittances into Tanzania from more countries around the world. It will enable families and friends in the country to conveniently receive money through M-Pesa from across the world. This is just one more way we are making our customers’ lives easier.”
The telco has an extensive footprint of over 106,000 M-Pesa agents across the country, as well as a diverse ecosystem of banks, businesses and merchants connected to M-Pesa.
Cynthia Ponera, Country Manager for Tanzania at WorldRemit, said, “Our money transfer service to Tanzania is growing by over 100% year-over-year, and mobile money is the most popular way for our customers to send money to the country.”
“We are delighted to partner with Vodacom to further expand our network and connect over nine million M-Pesa customers to our award-winning money transfer service. Our partnership will drive down the cost of sending money to Tanzania and enable recipients in some of the most remote locations to receive money from abroad in seconds,” she added.
According to the World Bank, migrants from Sub-Saharan Africa sent $46 billion back home in 2018, a growth of 10% compared to the previous year.
The majority of money transfers to Tanzania are sent through banks, which often charge high fees and can take several days to process payments.
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