Vodacom M-Pesa expands International Money Transfer service

By Pavithra R

Vodacom Tanzania M-Pesa has announced that Vodacom customers will now have the option and ability to transfer and receive funds from individuals in more than 200 countries worldwide.

The announcement was made at the international day of family remittances event held in Dar es Salaam where stakeholders met to deliberate on the future of International Remittance post-COVID-19. Speaking during a panel discussion on the same, Assistant Manager, Oversight and Policy at Directorate of National Payment Systems from Bank of Tanzania (BOT) Albert Cezari said that the national bank has increased limits on digital transactions and reviewed balances of mobile wallets to provide relief and ensure continuity of services amidst COVID-19.

According to Vodacom Tanzania PLC Managing Director Mr Hisham Hendi, international remittances connects people and small businesses (SMBs) irrespective of geography. As the international remittances continue to transform the lives of thousands of Tanzanians through facilitating payments in education, health, and various business segments. Vodacom M-Pesa aims to continue providing a platform for Tanzanian diaspora to effectively participate in socio-economic activities for the overall development of the country.

“We pride ourselves for being enablers in the payment system by facilitating cross border trade within the region for the efficient and seamless sending and receiving of funds, from anywhere around the globe through M-Pesa International Money Transfer Service,” added Mr Hendi.

Vodacom M-Pesa has increased its portfolio of partnerships and countries, to widen its Money transfer service worldwide. Its partners include Remitly, MoneyGram, WorldRemit, and JubaExpress, all of whom enable customers to receive money from countries across the World directly into their M-Pesa wallet. The company’s Pan African partnerships include MTN, EcoCash, Safaricom, and Mama Money, which enable customers to send and receive money from South Africa , Kenya, Uganda, Zambia, and Burundi.

Praising the move, Peter De Caluwe, CEO- Thunes said “Such partnerships and innovations support the true African spirit because African countries have always been connected through daily movement of people, goods and services. International Money Transfer services are critical to the African economies as they facilitate inflow of foreign currency into these countries which has a direct bearing on the social and economic welfare of Africans”.

Recently, WorldRemit launched remittance services in Somalia.

“Whilst the importance of mobile payments to financial inclusion in developing markets cannot be overstressed, the M-Pesa IMT service goes an extra mile by allowing previously excluded to send and receive money across borders affordably. Thus our partnership with Vodacom M-Pesa aims at increasing the reach of international money transfers,” added Peter De Caluwe.

Vodacom Tanzania was established in 1999 when the Vodacom Group won a bid to operate a GSM cellular network and provide Public Land Mobile Network Services (PLMN) in the United Republic of Tanzania.