Money transfer service, Xpress Money, has partnered with Huawei to drive mobile money services to more of the global unbanked, targeting Africa in particular.
The partnership will give the remittance firm access to Huawei’s mobile money service platform, which has over 100 million mobile money accounts globally.
Huawei’s mobile money services platform delivers basic banking transactions in developing countries. The technology is not restricted, and because it works on both smartphones and basic handsets, it has been particularly successful in developing markets, it said.
Recipients of Xpress Money remittances can use the service to make online and offline payments, pay for essential services such as utilities and school fees, as well as financial services like loan applications, insurance and banking.
“At Huawei, we want to bring the best remittance services to our network partners and their customers. Africa is a key market in the mobile money industry and it’s imperative we give our customers here access to the best services,” said David Chen, director of marketing & solution sales Huawei Southern Africa Region.
“For those that have limited access to formal banking services, mobile money is a critical technology. There are over 500 million mobile money accounts currently in use, and with Huawei servicing over 100 million of these, we’re confident this collaboration will improve the state of financial services for Africa’s unbanked,” said Sudhesh Giriyan, chief operating officer of Xpress Money.
Xpress Money’ has a global presence in more than 165 countries across 200,000 agent locations providing simple, fast and secure money transfer solutions to thousands of customers, every day.
Huawei’s mobile money partners in Africa include Safaricom, Vodafone, Vodacom and Teasy Mobile in 10 African countries including Kenya, Ghana, Nigeria and Zimbabwe.