Western Union Company and MTN launch Ugandan mobile money transfer service
A new mobile money transfer service has been launched in Uganda by Western Union Company and MTN Group.A new mobile money transfer service has been launched in Uganda by Western Union Company and MTN Group.
MTN's two million mobile money customers can now add funds to their accounts that have been sent through Western Union's system.
Furthermore, they will be able to send cash to different countries using their mobile phones - something the companies believe will help to promote financial inclusion.
Diane Scott, Executive Vice-President, Chief Marketing Officer and President of Western Union Ventures, said: "Our mobile money transfer service will unlock new economic opportunities for thousands of underserved consumers in Uganda, whose financial needs are not being met elsewhere."
A total of 9,000 branded Yellow Phones will also be distributed to Ugandans through promotion campaigns over the coming months.
New Vision recently reported that mobile money schemes such as this have transformed the banking sector in Uganda by offering new ways for people to make financial transactions.