Mobile international money transfer comes to Madagascar

Feb 09, 2012

In Madagascar, mobile operator Telma now gives users of its mobile payment service Mvola the ability to receive money from abroad.

In Madagascar, mobile operator Telma now gives users of its mobile payment service Mvola the ability to receive money from abroad.

It has teamed up with Western Union, a leader in international money transfer, to launch this service, L'Express de Madagascar reports.

Users can make a money transfer from any of the 424,000 Western Union branches spread across 200 countries.

The Mvola account is credited within minutes and a notice is sent via SMS to the owner of the account.

This is "a service which will be particularly useful in the isolated areas of Madagascar", Telma stated.

Madagascar is among the countries where mobile payment services have a strong potential for development, as bank account owners on the island represent less than 10 percent of the population (20 million inhabitants) and one in three people own a mobile phone, Newsmada reports.

Mvola was launched in 2010, in partnership with BFV-SG bank (Société Générale group).

Orange Madagascar also launched a mobile payment service in 2010 called Orange Money and currently has more than 500,000 people registered.ADNFCR-2976-ID-801288021-ADNFCR