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MFS Africa has inked partnership with Western Union to allow individuals and businesses across the continent to receive money from more than 200 countries.
Beginning in Madagascar, MFS Africa, Africa’s largest payment gateway, will facilitate funds from all around the world to pass through its licensed payment rails to mobile wallets across Africa
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“At MFS Africa, we have always believed in making payments as simple as possible. Payment infrastructures globally have traditionally remained fragmented and local in nature. Africa’s 54 countries are diverse not just in terms of population, development levels, growth rates, and stability but with payment infrastructure and regulations as well. Africa’s fast-growing populations and markets present important opportunities for businesses and individuals in an environment of slowing global growth. MFS Africa has more than a decade worth of experience in navigating the challenging Africa payments landscape. Its direct relationship with mobile wallet players, banks, cash pick up networks and regulators on the continent is unmatched in the industry. Western Union is a global leader in cross-border, cross-currency money movement and payments,” said Managing Director, MTO’s at MFS Africa, Kumar Shourav, noting that the partnership is unprecedented in the industry with huge potential benefits, value, and impact implications in the long run.
He added: “Through this partnership, both organisations will provide customers, businesses and Global Development Organisations across the world with access to convenient payout options in Africa. This will foster better integration between Africa and the rest of the world and will go a long way in supporting financial inclusion across the continent. Therefore, this partnership made complete sense.”
According to Global Head of Account Payout Network, Western Union, Hassan Chatila, “At Western Union, we aim to be the global leader in providing accessible financial services to the world’s populations and, in turn, increase global financial inclusion. Our efforts to drive global financial inclusion means delivering on customer needs today and into the future. Through our partnership with MFS Africa, we are excited to come together and deliver on our joint commitment to bring innovative solutions for customers as they support their families and accelerate their momentum up the economic ladder.”
Regional Vice President of Africa, Western Union,Mohamed Touhami El Ouazzani, said “Innovation, commitment to customer focus and financial inclusion are at the heart of everything we do at Western Union. We are deeply committed to the region and remain focused on advancing cross-border money movement solutions for the people in this region, their communities as well as the broader economy. Through our collaboration with MFS Africa, we look forward to achieving our common critical role in getting money to the places where and when it is most needed.”
He added: “This collaboration to provide access to transacting across borders will further cement MFS Africa as a preferred, better, and one-stop solution for payments into and within Africa. Whether you’re a young entrepreneur in the merchant marketplace, require access to collect loan repayments from customers or need to send bulk payments, MFS Africa strives to continuously connect senders, recipients, and service providers across the continent.”
MFS Africa’s full-service digital payments network connects over 400 million mobile money wallets, over 200 million bank accounts across Africa, and over 200,000 agents in Nigeria to enable cross-platform and cross-border payments for remittance companies, mobile network operators, banks, non-bank financial institutions and global merchants.
