pr mfs africa connects airtel malawi to mobile remittance ... · money to an airtel money user in...

AirtelMalawiandMFSAfricapartnertoprovideinternationalmoney

transfersfromSouthAfricaintoMalawiLilongwe,Malawi/PortLouis,November11–MFSAfricaandAirtelMalawiareproudtoannouncethelaunchofmobilemoneyremittancesfromSouthAfricatoAirtelMoneycustomersinMalawi.MFSAfricaisthelargestandfastest-growingmobilemoneyaggregatorinAfrica,connectingover65millionmobilewalletusersthroughitspartnershipswithAirtelAfricaandotherAfricantelecomsleaders.AirtelisthethirdlargesttelecomsoperatorintheworldofferingtelecomsolutionsinAsiaandAfrica.MFSAfricarunsaninter-operabilitypaymentshubthatconnectsmobilewalletsystemsinAfricaandbeyondtoenablecross-border,cross-currency,cross-networktransactions.Anyofthemorethan65millionconnectedwalletuserscansendmoneytoanAirtelMoneyuserinMalawithroughasimplemobilewalletmenu.TheHubalsoconnectstoagrowingnumberofmoneytransfercompanies,offeringthemtheabilitytosendtransactions–whetherfromthecounteroranonlineservice–toAirtelMoneywalletsinMalawi.AccordingtotheWorldBank,Malawireceivesapproximately$30Mannuallyinremittances,throughbothformalandinformalchannels.Formalchannelssuchasbanksandtraditionalmoneytransfercompaniescantakedaysandchargeexorbitantfees,whileinformalmoneytradersandcourierscarryhighlevelsofriskanduncertainty.Assuch,currentcostsoftransferstoAfricaaverage12%,andtransfersbetweenAfricancountriescostonaverage20%-comparedtoaglobalaverageof8%.Incontrast,transfersthroughmobilemoneyareinstantaneous,secure,traceable,anddramaticallycheaper.“Weareverypleasedtoofferlow-costremittanceservicestoAirtelMoneycustomersinMalawi”saidFrancisMatseketsa,CountryDirectorforAirtelMoneyinMalawi.“OurcustomerswillnowbeabletoreceivemoneyfromfriendsandlovedonesacrossAfricaandallovertheworld.TheycanthenusethosefundsatanyofourhundredsofmerchantswhoacceptAirtelMoney,orcashoutatanyofthemorethan8,000AirtelMoneyAgentsacrossthecountry.“WithMFSAfrica,wehavejustbegananexcitingjourneyofprovidingaffordableinternationalmoneytransfersbeginningwiththeSouthAfricancorridor,”addedMatseketsa.“AirtelMoneyisaleaderinthemobilepaymentsspaceacrossAfrica,andweareexcitedaboutextendingmobileremittanceservicesacrosstheirentirefootprint,”saidSharonWelang,GeneralManagerforGlobalAccountsatMFSAfrica.“WeareespeciallyproudtooffermobileconvenienceandaccessibilitytotheSouthAfricanmoneytransferindustry,startingwiththecorridortoMalawi.”

AboutMFSAfricaMFSAfricaisapan-Africanfintechcompanythatdevelopsinnovativesolutionsthataddfunctionalityandvaluetomobilewallets.Thecompanyworksinclosepartnershipwithmobilenetworkoperatorsandfinancialinstitutionstobringsimpleandrelevantfinancialservicestoun-andunder-bankedcustomers.MFSAfricacurrentlyconnectsover65millionmobilewalletcustomersinsub-SaharanAfrica.TheMFSAfricaHubalsoconnectsmoneytransferorganizations(MTOs)tomobilewalletsinAfrica,allowingMTOstotakeadvantageofthegrowingpopularityofmobilewalletsassafe,convenient,compliant,andcosteffectivedeliverychannelforinternationalremittances.Earlierthisyear,MFSAfricaenabledmobileremittancestoandfromAirtelMoneyinNiger.Formoreinformationvisitwww.mfsafrica.com.Contact:RachelBalsham,DeputyCEOon+27738809088orrbalsham@mfsafrica.com

AboutBhartiAirtel

Bharti Airtel Limited is a leading global telecommunications company withoperations in 20 countries across Asia and Africa. Headquartered in New Delhi,India, the company ranks amongst the top 3mobile service providers globally intermsofsubscribers. InIndia, thecompany'sproductofferings include2G,3Gand4G wireless services, mobile commerce, fixed line services, high speed DSLbroadband, IPTV,DTH, enterprise services includingnational& international longdistanceservicestocarriers.Intherestofthegeographies, itoffers2G,3Gand4Gwireless services and mobile commerce. Bharti Airtel had over 335 millioncustomers across its operations at the endofAugust 2015. To knowmorepleasevisitwww.airtel.com.