M-Pesa remittance service to expand to 5 additional markets
M-Pesa is a service that was created in Kenya in 2007 enabling users to make bill payments as well as send and receive money even if they do not have a bank account. The only prerequisite of the service is that individuals have the use of a cell phone. The company has more than 20 million customers and is currently available to 11 markets throughout the world, including the countries of India, Egypt and Romania.
With the new agreement, HomeSend and Vodafone will provide M-Pesa's service to individuals in the Democratic Republic of Congo, Lesotho, Mozambique, Albania and Ghana.
The new offering will allow future customers a secure method of sending and receiving remittances and provide the use of MasterCard payments, later this year.
"We are thrilled to expand our work with Vodafone to bring all-important, cost-effective money transfer services to M-Pesa customers in even more countries," Stephen Doyle, HomeSend CEO, said.
This sentiment was also echoed by the Head of M-Pesa's Commercial and Stategy Claire Alevandre, "We’re delighted to offer our customers more choice to send and receive money from other countries and networks."