The agreement is set to allow consumers who visit MoneyGram’s 334,000 agents across the globe to send funds directly to M-Pesa accounts. MoneyGram customers can also transfer money to an M-Pesa user through moneygram.com or via a mobile app, available on iPhone, Android and Windows 8 phones.
M-Pesa, which allows customers to pay bills and withdraw, transfer and deposit money, is currently available in the Democratic Republic of Congo, Egypt, Fiji, India, Kenya, Lesotho, Mozambique, South Africa and Tanzania. Additional markets are due to launch M-Pesa during 2014.
In recent news, MoneyGram has entered an agreement with Postal Savings Bank of China (PSBC), a Chinese commercial retail financial institution, to provide money transfer services in approximately 3,700 locations.
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