Western Union, a leader in cross-border/cross-currency money movement, and MTN, a leading provider of telecommunications services in Africa and the Middle East, have come together to enable customers in Ghana receive Western Union money transfers into their MTN Mobile Money wallets – giving them convenience at their fingertips.
Through this product offering, over 14 million MTN Mobile Money wallet users will have the choice to direct their international money transfers into their mobile wallet with a few clicks. Monies can be received from customers using Western Union digital products and the Agent retail network across the world.
With a thriving mobile money market, Ghana is named as one of top countries with tremendous growth of registered mobile money accounts in the sub-Saharan Africa region, according to the 2017 State of the Industry Report on Mobile Money by GSMA Intelligence.
“Our aim is to offer seamless money transfers for all. This means serving customers across all channels – including servicing fast-emerging mobile first-customers. Our platform sets ourselves up to effectively serve an evolving marketplace with diverse customer preferences and needs. With this collaboration, customers in Ghana can now choose from multiple pay-out options – either into their MTN Mobile Money wallet or at a Western Union® Agent location,” said Mohamed Touhami El Ouazzani, Head of Network-Africa, Western Union.
With the MTN Mobile Money wallet, customers in Ghana can access reliable and convenient money transfer services, top-up MTN airtime, pay bills, buy and pay for insurance, airline tickets and other goods and services.
“We are excited that the collaboration with Western Union will allow customers to direct international money transfers into their mobile money wallets, which also positions MTN as a leader in the payments industry. With the large number of incoming remittances to Ghana, this digital service allows people to receive money without having to leave their home or office,” said Eli Hini, General Manager MTN Mobile Financial Services.
“MTN will continue to support digital solutions that make global payment options easier for its valued customers,” added Hini.
According to World Bank’s Migration and Remittances Brief 31, Ghana was among the top-three remittance-receiving countries in sub-Saharan Africa for 2018 – underscoring the importance of money transfer services for the country.
In addition to this digital service launch, customers can access the existing in-store money transfer services from a large network of Agent locations across the country.
In line with central bank of Ghana regulations, prior to first use of the Western Union service, consumers are required to register for an MTN Mobile Money wallet with a valid National ID for verification.
After registration, consumers can conveniently receive Western Union money transfers into their MTN Mobile Money wallet. Consumers can receive up to US$500 in Ghanaian cedis equivalent per transaction or US$1500 in Ghanaian cedis equivalent per day.
Once the funds are deposited into the wallet, customers will receive an SMS confirmation and be notified of the total balance in their wallets. To receive local currency in person, customers can go to over 135,000 MTN Mobile Money Agent locations and over 200 Partner Banks’ ATMs for a cardless withdrawal.