Monday, 4 June 2012

Rwanda : MTN Mobile Money now extends to Rwandan Diasporas

On 30th May 2012, MTN Rwanda and MFS Africa announced the launch of an online money transfer service that enables MTN Mobile Money customers to receive international remittances directly on their mobile phones.
The service referred to as MTNMMO.COM is an online facility that enables MTN Mobile Money customers in Rwanda to receive international remittances directly on their mobile phones from senders in the Diaspora.
Senders from outside Rwanda can 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 at attractive price levels. While Mobile Money customers today can already send and receive money from within Rwanda, the MTNMMO.COM service for the first time enables cross-border transfers into MTN Rwanda.
The ‘MTNMMO.COM’ service in Rwanda is facilitated by MFS Africa, in partnership with BCR (BanqueCommerciale du RwandaLtd).
According to Albert Kinuma, Head of MTN Business, “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. We are thankful to the Central Bank of Rwanda for allowing us to launch this groundbreaking service for the benefit of the Rwanda population.”
“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, he added.
AukeAlgera, the General Manager East Africa at MFS Africa said MTNMMO.COM is the first product being launched in Rwandaby the company.
“The service extends the benefits of Mobile Money to the Rwandan Diaspora. Long travelling times and uncompetitive remittance costs are now a thing of the past. We established ourselves in Rwanda because we are committed to deploying a range of innovative financial products for mobile money providers in the region,” Algera said.
MTN Rwanda is among the first MTN operations to connect to this service. The service is also being rolled out across multiple MTN Mobile Money countries currently including Cote d’Ivoire. Other MTN Mobile Money operations including Cameroon and Ghana will join the service during the year,
MTN Mobile Money service was launched in Rwanda in February 2010 and since then it has been one of the most success stories of Rwanda’s telecom industry. With close to 3 million subscribers, MTN Rwanda now has slightly more than 475,000 on Mobile Money and transacted volumes of over Rwf 60 billion since it started operations. A recently GSMA Mobile Money report identify MTN Rwanda as being among the 8 fast-growing mobile money economies in the world.  Currently


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