MTN Mobile Money has become the fastest growing method of receiving WorldRemit international money transfers in Ghana. WorldRemit says the number of transfers received on mobile accounts is growing by 13% per month on average.
Countries sending the most money to Ghana include the United Kingdom, USA and Australia according to the global money transfer service.
"The increased use of Mobile Money in remittances is also driving a new phenomenon - 'micro remittances', where people send smaller amounts, more often. Mobile Money is most commonly used for transfers of less than 300 Cedi, with the average WorldRemit sender transferring around three times per month," revealed WorldRemit in its announcement.
Alix Murphy, Senior Mobile Analyst at WorldRemit elaborated on the reasons for the growing popularity of MTN Mobile Money for international transfers to the West African country. "Ghanaians are taking advantage of low-fee, instant mobile transfers to send money for specific purposes, right when it is needed. In the past, people often sent a single lump sum, once a month. Today, with MTN Mobile Money, they can help with unexpected bills or family expenses whenever they arise."
Murphy says instant messaging has also played a role in driving micro-remittances of the kind they facilitate. "Ghanaians are constantly talking to their family and friends abroad and many of those discussions are about their personal finances."
Eli Hini, General Manager, Mobile Financial Service at MTN says the ability to instantly receive international remittances from around the world is another reason why Ghanaians are increasingly using MTN Mobile Money to address their day-to-day financial needs.
"WorldRemit's service extends the usefulness of mobile money beyond our borders to reach the entire global Ghanaian community. With more than 40,000 of our agent points and more than 600 Partner bank ATMs across Ghana, the service can be enjoyed by all MTN Mobile Money customers."
WorldRemit was established in 2010. The company has reported that a third of its 400,000 money transfers worldwide are received via mobile money. The company began offering transfers to MTN Mobile Money in Ghana in January 2013.
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