In yet another exciting development in mobile money innovation, MTN Uganda announced the launch of cross-border mobile money transfer services between Rwanda and Uganda.
This new Mobile Money service will allow customers in both countries to transact via Mobile Money without having to change currencies.
The service enables an MTN customer in Rwanda to send money in Rwandese Francs to a recipient in Uganda who will receive it in Uganda Shillings.
The recipient has to be a customer of MTN Uganda to receive the transfer.
Currently, the service only allows customers in Uganda to receive money from Rwanda.
“Technology is helping us eliminate national borders, enabling a unified digital and mobile financial services world. We are delighted to offer a solution that further enhances this agenda. We also trust that our customers will find it easy, fast and a more convenient means of transferring funds internationally,” said Mr. Phrase Lubega, MTN Uganda’s General Manager in charge of Mobile Financial Services.
This year, the MTN Mobile Money ecosystem has expanded extensively, with the launch of a number of innovative solutions that integrate Mobile Money into the fabric of our society, making it an integral part of our customer’s lives.
They include the payment of fees and taxes to the Kampala Capital City Authority, payment of fuel to Shell petrol stations nationwide to the transfer of bank transactions from one’s bank account to the mobile money wallet as well as online purchases, through the ‘Hellofood’ and ‘Jumia’ online shops.
Mobile Money is changing the day-to-day lives of MTN customers for the better.
By June 30th 2015, MTN Uganda had recorded a 12.8 percent increase in Mobile Money subscribers, from 7.3 million (at the end of 2014) to 8.2 million.