Tuesday 21 November 2017

Huawei joins WorldRemit in mobile money transfer deal for Africa

Huawei joins WorldRemit in mobile money transfer deal for Africa
(Reuters (Eng) 07/11/17)

Digital money transfer service WorldRemit has partnered with Chinese smartphone maker Huawei [HWT.UL] to enable the international transfer of money across Huawei's mobile services in Africa, the companies said on Tuesday.

Mobile money services that allow customers to transfer funds using their phones have proved hugely popular in parts of Africa, particularly where people have less access to traditional bank accounts.

"International remittance is a very important mobile money service in Africa, and our partnership with WorldRemit will bring international remittances directly to Huawei’s customers across the continent," David Chen, Vice-President of Huawei Southern Africa, said in a statement.

Safaricom's mobile phone-based financial service M-Pesa in east Africa has already seen success in this market.

The partnership will allow London-based WorldRemit to connect to over 100 million mobile accounts currently using Huawei’s platform, which delivers basic banking transactions through its mobile money offerings on smartphones and basic handsets.

The deal will reduce the barrier of technical integrations with new mobile money operators to offer international remittances for mobile network operators to enable all Huawei partners to swiftly switch on this service, WorldRemit and Huawei said.

(Reporting by Tanisha Heiberg; editing by Susan Thomas)

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