Technology and Science
MoneyGram to roll out mobile wallets to Kenya, Tanzania and Uganda
International, Inc. a global leader in cross-border P2P payments and money transfers, is partnering with fintech payment network, Thunes, to enable MoneyGram customers to send money directly to mobile wallets and bank accounts globally through the MoneyGram platform, according to a press release.
Additional payment services will be rolled out in two phases. The first will be in Africa where Kenya, Tanzania and Uganda lead the continent in mobile wallet usage, and the second will focus on the Asia Pacific region and Latin America.
“This partnership marks an important milestone for us. Through this tie-up, Thunes can connect MoneyGram to over 30 markets in Africa, enabling us to significantly expand our reach into the region,” John Gely, head of MoneyGram Africa said in the release. “We are continuously investing in key markets and accelerating digital growth through the integration of mobile wallets and banks, and we believe our partnership with Thunes will further support our strong expansion.”
MoneyGram recently reported that account deposit and mobile wallet transactions increased 165% in July, which is an acceleration from the second quarter where the company reported 148% year-over-year transaction growth. This partnership is expected to further support this strong growth globally and further strengthen MoneyGram’s leading position in Africa.