Africa Banking Currency Economy Financial Inclusion Mozambique Tech Telecom

MFS Africa, Vodacom Mozambique launch mobile remittance service

African fintech company MFS Africa has announced the launch of mobile remittance services to the Mozambique market, with the addition of Vodafone M-Pesa, a subsidiary of Vodacom Mozambique, to its payments hub. MFS Africa runs an inter-operability payments hub that connects mobile wallet systems in Africa and beyond to enable cross-border, cross-currency, and cross-network transactions. The Hub also connects to a growing number of banks and money transfer companies, offering them the ability to send transactions to M-Pesa wallets in Mozambique.

Gulamo Nabi, Managing director of Vodafone M-Pesa said M-Pesa Mozambique customers can now receive convenient, affordable, secure remittance payments from friends and loved ones in South Africa, and all over the world. They can then access those funds at any of Vodacom’s thousands of M-Pesa agents across the country, or use the funds for any of the M-Pesa payment transactions currently available on mobile money menu.

A service of Hello Group, Hello Paisa already serves in excess of 10 000 Mozambican customers through its popular mobile phone based remittance service. Mozambique receives over USD 95 million annually in remittances from South Africa, and another USD 66 million from the rest of the world, according to the World Bank. The first money transfer company to connect to Mozambique is Hello Paisa, a South African-based remittance services offering low-cost solutions to migrant communities.

Hello Paisa customers can register transactions through the Hello Paisa Android App or via its multilingual call centre, and can settle these transactions at any Hello Store or partner outlet including many major South African retailers.

Source: Telecompaper

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