Over 50% of Africa money remittances are received through the mobile wallets and airtime top ups.
This is according to global money transfer service, WorldRemit.
“In Kenya, 82% of WorldRemit transfers are received on M-Pesa Mobile Money, while 60% of all transfers to Zimbabwe are sent to EcoCash Mobile Money,” the company said.
The company made the announcement as they launched their new mobile application that will be used to send and receive money over 110 countries globally.
“This is part of a wider mobile revolution. On the receiving end, the number of transfers going to Mobile Money services is growing while mobile airtime top-ups are also increasing. The future of remittances and all financial services is clearly mobile,” said Ismail Ahmed, founder and chief executive officer of WorldRemit.
Meanwhile, in Kenya mobile operator Safaricom signed a deal with MoneyGram to have money remittance received through the M-Pesa mobile money wallet.
“Over the last eight years, M-Pesa has enabled nearly 70% of the adult population in Kenya to access financial services, up from 40% in 2007. M-Pesa is enabling an increasingly secure and vibrant digital economy in Kenya,” saif Safaricom’s chief executive officer, Bob Collymore.
“This new relationship with MoneyGram enables us to tap into remittances coming in from Kenyans living in other countries,” Collymore added.
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