MoneyGram International, a cross-border P2P payments and money transfer company, has announced four mobile wallet and fintech partnerships that provide the company with access to mobile wallets in 28 African markets, creating the industry’s largest footprint
According to MoneyGram International, these new partnerships with Airtel, Thunes, InTouch and MFS Africa will help drive strong digital growth as it continues to carry out its customer-centric digital transformation, as mobile money adoption is rapidly growing in Africa.
Services at Thunes and InTouch begin as early as this week, while partnerships with Airtel and MFS Africa are set to go live in the coming months.
“Our digital business has seen amazing growth over the past several years, and these new partnerships are important milestones as we execute our strategy to accelerate digital growth by expanding access to mobile wallet capabilities,” said Kamila Chytil, MoneyGram chief operating officer and leader of the company’s digital business. “Customer demand for mobile wallets has increased significantly over the last few years, and with the onset of the global pandemic, the launch of these strategic partnerships is more important than ever.”
According to the 2019 State of the Industry Report on Mobile Money published by the GSMA, the mobile money industry is recording astonishing growth in 2019 with around US$730bn of global transactions. The organisation, with an estimated 190mn active wallets, reports Africa as one of the world’s fastest-growing mobile money transaction continents.
“Africa is seeing significant growth in mobile money adoption across the continent, and we’re excited to partner with Airtel, Thunes, InTouch and MFS Africa to further support our collective goals to mobilise the movement of money,” said Grant Lines, MoneyGram chief revenue officer. “We continue to execute our plan to overhaul major receive markets, and I look forward to building upon our strong momentum in Africa through these new partnerships.”
