Mobile money hub TransferTo has signed a framework agreement with Vodafone to enable real-time international money transfers to M-Pesa mobile money accounts worldwide.
Powered by TransferTo’s cross-border mobile money network, the global partnership will make it faster and easier for consumers and organisations to send money to multiple M-Pesa accounts, in real time.
TransferTo’s mobile money hub provides a dedicated, scalable and fully compliant solution to connect with millions of M-Pesa users via a single connection. Regulated by the Financial Conduct Authority in the UK as an Authorised Payment Institution, the firm provides its partners with assured compliance for all relevant regulatory standards.
Eric Barbier, CEO of TransferTo, said: “Mobile Money has the power to drive greater financial inclusion globally, transforming the lives of the two billion people who are currently ‘unbanked’ today. By making it faster and easier for consumers to send money to multiple M-Pesa accounts, we are giving M-Pesa users greater freedom to spend and receive money, while accelerating the growth of Mobile Money accounts worldwide.”
Michael Joseph, M-Pesa Director at Vodafone Group, said: “TransferTo has the global reach, network of partners and assured compliance required that we need as we continue to rapidly scale international money transfers with financial institutions and mobile operators worldwide, enabling our users to receive funds from even more countries globally.”