Safaricom and Western Union sign money transfer deal

Written By: Benson Rioba
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Mpesa customers will be able to send and receive money at any Western Union centers across the world after Safaricom and Western Union inked a money transfer deal.

Under the deal, Mpesa customers will be allowed to send and receive a maximum of 140,000 shillings per day globally through their mobile phones as Safaricom holds talks with the National Treasury and other regulators to increase the maximum amount that can be transacted.

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According to figures from the Central Bank, Kenyans in the Diaspora sent home 197.1 billion shillings last year with the remittance surpassing tea and tourism as the country’s top foreign exchange earners.

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Safaricom is seeking to tap into the lucrative remittance market after partnering with Western Union a deal that will see Mpesa customers receive and send money globally using their mobile phones.

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Chief Customer Officer Sylvia Mulinge says, Safaricom is in talks with regulators to increase daily transaction, that currently stands at 140,000 shillings.

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The new mobile money transfer service will allow transactions in 130 world currencies.

However, Mpesa global bank transfers will only be available in the United Arab Emirates, the United Kingdom and Germany.

 

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