Post on 21-Jul-2020
AirtelMalawiandMFSAfricapartnertoprovideinternationalmoney
transfersfromSouthAfricaintoMalawiLilongwe,Malawi/PortLouis,November11–MFSAfricaandAirtelMalawiareproudtoannouncethelaunchofmobilemoneyremittancesfromSouthAfricatoAirtelMoneycustomersinMalawi.MFSAfricaisthelargestandfastest-growingmobilemoneyaggregatorinAfrica,connectingover65millionmobilewalletusersthroughitspartnershipswithAirtelAfricaandotherAfricantelecomsleaders.AirtelisthethirdlargesttelecomsoperatorintheworldofferingtelecomsolutionsinAsiaandAfrica.MFSAfricarunsaninter-operabilitypaymentshubthatconnectsmobilewalletsystemsinAfricaandbeyondtoenablecross-border,cross-currency,cross-networktransactions.Anyofthemorethan65millionconnectedwalletuserscansendmoneytoanAirtelMoneyuserinMalawithroughasimplemobilewalletmenu.TheHubalsoconnectstoagrowingnumberofmoneytransfercompanies,offeringthemtheabilitytosendtransactions–whetherfromthecounteroranonlineservice–toAirtelMoneywalletsinMalawi.AccordingtotheWorldBank,Malawireceivesapproximately$30Mannuallyinremittances,throughbothformalandinformalchannels.Formalchannelssuchasbanksandtraditionalmoneytransfercompaniescantakedaysandchargeexorbitantfees,whileinformalmoneytradersandcourierscarryhighlevelsofriskanduncertainty.Assuch,currentcostsoftransferstoAfricaaverage12%,andtransfersbetweenAfricancountriescostonaverage20%-comparedtoaglobalaverageof8%.Incontrast,transfersthroughmobilemoneyareinstantaneous,secure,traceable,anddramaticallycheaper.“Weareverypleasedtoofferlow-costremittanceservicestoAirtelMoneycustomersinMalawi”saidFrancisMatseketsa,CountryDirectorforAirtelMoneyinMalawi.“OurcustomerswillnowbeabletoreceivemoneyfromfriendsandlovedonesacrossAfricaandallovertheworld.TheycanthenusethosefundsatanyofourhundredsofmerchantswhoacceptAirtelMoney,orcashoutatanyofthemorethan8,000AirtelMoneyAgentsacrossthecountry.“WithMFSAfrica,wehavejustbegananexcitingjourneyofprovidingaffordableinternationalmoneytransfersbeginningwiththeSouthAfricancorridor,”addedMatseketsa.“AirtelMoneyisaleaderinthemobilepaymentsspaceacrossAfrica,andweareexcitedaboutextendingmobileremittanceservicesacrosstheirentirefootprint,”saidSharonWelang,GeneralManagerforGlobalAccountsatMFSAfrica.“WeareespeciallyproudtooffermobileconvenienceandaccessibilitytotheSouthAfricanmoneytransferindustry,startingwiththecorridortoMalawi.”
AboutMFSAfricaMFSAfricaisapan-Africanfintechcompanythatdevelopsinnovativesolutionsthataddfunctionalityandvaluetomobilewallets.Thecompanyworksinclosepartnershipwithmobilenetworkoperatorsandfinancialinstitutionstobringsimpleandrelevantfinancialservicestoun-andunder-bankedcustomers.MFSAfricacurrentlyconnectsover65millionmobilewalletcustomersinsub-SaharanAfrica.TheMFSAfricaHubalsoconnectsmoneytransferorganizations(MTOs)tomobilewalletsinAfrica,allowingMTOstotakeadvantageofthegrowingpopularityofmobilewalletsassafe,convenient,compliant,andcosteffectivedeliverychannelforinternationalremittances.Earlierthisyear,MFSAfricaenabledmobileremittancestoandfromAirtelMoneyinNiger.Formoreinformationvisitwww.mfsafrica.com.Contact:RachelBalsham,DeputyCEOon+27738809088orrbalsham@mfsafrica.com
AboutBhartiAirtel
Bharti Airtel Limited is a leading global telecommunications company withoperations in 20 countries across Asia and Africa. Headquartered in New Delhi,India, the company ranks amongst the top 3mobile service providers globally intermsofsubscribers. InIndia, thecompany'sproductofferings include2G,3Gand4G wireless services, mobile commerce, fixed line services, high speed DSLbroadband, IPTV,DTH, enterprise services includingnational& international longdistanceservicestocarriers.Intherestofthegeographies, itoffers2G,3Gand4Gwireless services and mobile commerce. Bharti Airtel had over 335 millioncustomers across its operations at the endofAugust 2015. To knowmorepleasevisitwww.airtel.com.