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MTN Group and Western Union sign commercial agreement
[November 15, 2010]

MTN Group and Western Union sign commercial agreement

Nov 15, 2010 (Datamonitor via COMTEX) -- MTN Group, a mobile operator in Africa and the Middle East, and Western Union, a provider of global payment services, have signed a commercial agreement to introduce international mobile remittance services in the 21 countries where MTN operates.

Once introduced, the service will allow MTN subscribers to send and receive Western Union Money Transfer transactions using their MTN MobileMoney accounts.

The service will first be introduced in Uganda, where MTN's MobileMoney service already boasts over 1 million registered users. When the new international remittance service is activated, MTN subscribers registered for MobileMoney will be able to receive Western Union Money Transfer transactions in their mobile accounts.

In addition, MobileMoney users in certain countries will be able to send Western Union Money Transfer transactions directly from their mobile phones for payout at one of Western Union's 386,000 agent locations in 200 countries and territories around the world.

An MTN subscriber who receives a Western Union Money Transfer transaction in his MobileMoney account will be able to use the funds to pay bills, top-up airtime, send money domestically and internationally, or withdraw cash at MobileMoney Agents or any participating ATM.

"The Western Union Mobile Money Transfer service is a key part of our multi-channel strategy to offer our consumers numerous ways to send and receive money," said Khalid Fellahi, Western Union's Head of Mobile Transaction Services. "This alliance with MTN, one of the world's most successful mobile operators, will introduce cross-border remittances to an entirely new segment of customers by allowing them to send and receive money using just their mobile phones." Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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