Tigos service allows millions of customers to send and receive money domestically, receive money internationally, pay bills, transfer money between people and businesses, use self-top ups, and make merchant payments.
Mobile money plays a key role in creating financial inclusion in El Salvador. According to the World Bank, mobile wallets have helped the country to nearly triple the percentage of adults with financial accounts in the last five years.
More than that, it is estimated that five percent of adults in the country have a mobile money account which represents the highest penetration rate in Latin America.
Tigo Money has over 4 million mobile money wallets across Latin America. The new agreement between MoneyGram and Millicom includes all of Tigos markets in Central and South America. Services are expected to soon be available in other countries such as Honduras, Guatemala, Bolivia, Colombia and Paraguay.
What`s more, according to the World Bank, USD 4.3 billion flowed into El Salvador via remittances in 2015, thats nearly 17 percent of the countrys gross domestic product.
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. They also provide bill payment services, issue money orders and process official checks in select markets.
Tigo is the principle commercial brand of Millicom, the telecommunications and media company founded in 1990 that is focused on 13 emerging and frontier markets. Worldwide, the Tigo brand provides mobile services to more than 62 million customers.
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