Kenyan mobile network operator Safaricom has partnered with Western Union to enable its M-Pesa customers send and receive money worldwide.
M-Pesa users can already receive fund transfers from across the globe through Western Union.
Under the new agreement, customers can make remittances from M-Pesa wallets to Western Union’s network of around 500,000 agents and bank accounts in over 200 countries.
Western Union Global Money Transfer president Odilon Almeida said: “We believe this breakthrough collaboration with Safaricom will spur a world of new possibilities for mobile financial service operators to directly scale globally and provide customers with choice to send or receive money to and from more than 200 countries and territories.
“It will become a model for opening a world of global connectivity and economic opportunity for emerging as well as developed economies.”
The remittance service will support transactions in 130 currencies, with the daily money transfer amount capped at KES140,000 ($1,374.57).
Safaricom chief financial services officer Sitoyo Lopokoiyit said: “With M-PESA Global, Safaricom customers enjoy the benefits of a globally connected world at the touch of the button, whenever and wherever they want to. The world is at their fingertips, whether they are sending money to a loved one overseas or receiving money from abroad.
“M-PESA Global reflects the evolution of customer needs in Kenya and Safaricom’s ability to anticipate and meet these needs – from facilitating inbound money transfers, domestic transfers across wallets, to now offering outbound, cross-border money transfers by connecting to the Western Union money transfer ecosystem.”