M-Pesa Safaricom said on Thursday it is partnering with Dashen Bank and CashGo to launch a new international remittance service in Ethiopia that enables users to receive money from abroad directly into their M-Pesa mobile wallets.
The new service enables M-Pesa users to receive remittances instantly and use their M-Pesa balance for transactions such as sending money, making merchant and bill payments, purchasing airtime and data, or withdrawing cash from authorized agents.
Under the partnership agreement, Dashen Bank will serve as the exclusive settlement and acquiring bank, processing remittance transactions received via CashGo, which will provide the digital remittance platform that facilitates the transfer of funds. M-Pesa Safaricom will ensure that customers can access their funds instantly through their M-Pesa mobile money accounts.
M-Pesa Safaricom CEO Elsa Muzollini said the partnership will drive financial inclusion and development of innovative digital financial solutions.
“With this service, recipients no longer need to visit financial institutions to collect funds,” she said in a statement. “Instead, they can access their money instantly on their phones, enhancing financial accessibility and ease of use."
