Vodafone, MoneyGram ink global M-Pesa cooperation agreement

Mergers, Acquisitions and Financial Results

Vodafone and MoneyGram have signed a global agreement that will enable customers from 200 countries to transfer money directly to M-Pesa users. The service will be launched in key markets during the second quarter, with additional roll-outs planned throughout the rest of the year.

MoneyGram customers will be able to send money to M-Pesa accounts via MoneyGram's 334,000 agents across the globe, through moneygram.com or via a mobile app, available on iPhone, Android and Windows 8 phones.

M-Pesa is now available in the Democratic Republic of Congo, Egypt, Fiji, India, Kenya, Lesotho, Mozambique, South Africa and Tanzania. Additional markets are due to launch M-Pesa this year. Vodafone M-Pesa director Michael Joseph said that an estimated USD 90 billion per year is transferred to M-Pesa markets from around the globe.