Safaricom has announced a new partnership with Ria Money Transfer that will allow M-Pesa customers to receive international money transfers from over 20 countries worldwide.
Michael Joseph, the telecommunication company’s acting CEO, said on Monday that the partnership will benefit at least 26 million M-Pesa subscribers.
Ria Money Transfer is a subsidiary of Euronet Worldwide. It is the second-largest money transfer network in the world with 389,000 locations across 161 countries.
Joseph said the new partnership is part of Safaricom’s commitment to give its customers more value.
“This partnership will further increase the value we provide to our customers by offering them more choice and the power to receive transfers directly into their M-PESA accounts,” said Joseph.
On his part, Juan Bianchi, CEO of Euronet’s Money Transfer Segment, said the partnership will make international money transfer easier and convenient.
“We see a great partner in M-PESA, a company committed to our same goal: providing an efficient and customer-centric money transfer service to ensure funds make it into the hands of those who need it most. We are confident in the success of this partnership and the enormous benefits it will bring our customers,” said Bianchi.
The new partnership now allows Mpesa subscribers to receive money sent via Ria direct to their accounts. The money will reflect on their Mpesa account balance.
This will save customers the hustle of currency conversion and visiting outlets to collect funds sent to them from abroad.
Customers sending money to Mpesa through Ria will be notified of the applicable charges before completing the transaction.
Mpesa subscribers will now have the convenience of receiving money from Ria’s top markets including the United States of America, Canada, the United Kingdom, Australia, Spain, in addition to majority of European countries.
The deal is part of the many partnerships that Safaricom has made in the recent past to better its services.
In 2018, Safaricom inked a deal with Western Union allowing its customers to send and receive money at any Western Union branch centers across the world.