26 July 2016
Find out more

Millicom launches international mobile money service witt currency conversion

24 February 2014  |  1905 views  |  0 Source: Millicom

Today, for the first time ever, mobile money users will be able to transfer cash across borders with currency conversion automatically included.

Two of Millicom's operations in Africa are pioneering the new international money transfer service. Tigo Cash users in Rwanda and Tigo Pesa customers in Tanzania will be able to send each other money in their respective currencies without having to travel and queue at a traditional bank or money agent.

Using their mobile handsets, the service enables customers to use the funds to access a range of services in each country. These include airtime top-ups, payments for water, electricity, TV, transport, cash withdrawals at any Tigo agent and transfers to other mobile money users.

Speaking at a keynote session at the global industry Mobile World Congress event in Barcelona today, Millicom's President and CEO Hans-Holger Albrecht said: "This innovation means the benefits of mobile money can be extended to cross-border trade, allowing businesses and families to transfer money quickly and securely in East Africa. It's just another example of how Millicom adapts to its customers' needs with digital solutions."

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Find out moreVisit www.abe-eba.euVisit capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9015 views 14 comments | 32 tweets | 37 linkedin
satelliteContactless Bitcoin startup Plutus Tap &am...
8963 views comments | 9 tweets | 3 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
8626 views 3 | 21 tweets | 7 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7956 views comments | 22 tweets | 28 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
7312 views comments | 17 tweets | 24 linkedin

Featured job

Find your next job