MoneyGram – a global provider of money transfer services – has teamed up with Zeepay, a leading African FINTECH giant, to allow customers to send money directly to all mobile wallets in the country in minutes.
MoneyGram customers in over 200 countries and territories can now send money online or in cash to over 11.8 million mobile wallets in Ghana, and it can be cashed-out at over 150,000 agent locations across the country.
According to the World Bank, remittances to Ghana stood at US$2.2 billion in 2017, which was an increase of 4.3 percent compared to 2016.
“The partnership with Zeepay makes it easier for our customers to send money to their families and friends in Ghana. This is an important step that will drive financial inclusion across the country – as customers can now receive money in cash, directly to their bank account or mobile wallet,” said John Gely, MoneyGram’s Head of Africa.
Andrew Takyi-Appiah, Managing Director Zeepay mentioned: “According to GSMA, remittances into mobile wallets is the fastest-growing financial product in Africa, with a potential to reach over 250 million wallets. We believe this milestone achieved with MoneyGram will further accelerate growth of digital services in Ghana and help boost employment. This is the future of Africa’s digital ecosystem and we look forward to further rollouts across the continent.
“We believe that through the launch of a money transfer service to mobile wallets, Zeepay and MoneyGram will improve last-mile access for over 18 million Ghanaians and make sending money easier for their families abroad. The service is very safe and convenient for both the sender and the receiver,” said Dede Quarshie, Senior Product Manager-Zeepay.
“On the financial inclusion aspect, the service is set to improve last-mile access to financial services while offering significant cost savings. This makes it easier for persons in remote communities to receive their money directly into a mobile wallet,” said Felicity, a Financial Inclusion Analyst.