Mobile money service provider MTN Uganda has launched cross-border money transfer services between Uganda and neighbouring country Rwanda.
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.
“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,” said Mr Phrase Lubega, MTN Uganda’s General manager in charge of Financial Services.
“We also trust that our customers will find it easy, fast and a more convenient means of transferring funds internationally,” Mr Lubega added.
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.