Business Wire

Western Union Powers Safaricom’s M-PESA Mobile Wallet to Send Money Globally

Jaa

Safaricom (NSE: SCOM), Kenya’s leading mobile network operator and provider of M-PESA, a leading mobile wallet, and the Western Union Company (NYSE: WU), a leader in cross-border and cross-currency money movement, have joined forces again—this time to unlock global money transfers for more than 28 million mobile wallet holders, by leveraging the Western Union® global money movement platform.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181107005336/en/

In a global first, Western Union will power Safaricom to scale money transfers to more than 200 countries and territories. M-PESA Global, a newly optimized feature will allow customers to send money from their wallet for pay-out across the Western Union retail Agent network or directly via Western Union’s access to billions of accounts.

M-PESA’s mobile wallet has revolutionized financial inclusion over a decade by enabling millions of Kenyans to receive money from abroad, store and send money or make payments locally, and leapfrog traditional infrastructure. M-PESA wallet holders already have the option to receive money from around the world via Western Union.

“Western Union’s global money transfer engine is powering Safaricom’s electronic M-PESA wallet to send and receive money globally, while customers can choose our multi-channel network to pay-out across the world. It is a unique integration of our platforms to scale global connectivity and we commend Safaricom for breaking new boundaries,” said Odilon Almeida, President, Western Union Global Money Transfer.

“We believe this breakthrough collaboration with Safaricom will spur a world of new possibilities for mobile financial service operators to directly scale globally and provide customers with choice to send or receive money to and from more than 200 countries and territories. It will become a model for opening a world of global connectivity and economic opportunity for emerging as well as developed economies,” said Almeida.

Safaricom has helped millions of Kenyans establish financial services on mobile wallets within Kenya. More than 1.7 billion transactions are processed over M-PESA annually, equivalent to more than 50 percent of Kenya’s GDP value.

“By opening up M-PESA to the world, we aim to enable a world of opportunity for Kenyans by making it easy and seamless for them to connect with the world,” said Sitoyo Lopokoiyit, Chief Financial Services Officer at Safaricom.

“With M-PESA Global, Safaricom customers enjoy the benefits of a globally connected world at the touch of the button, whenever and wherever they want to. The world is at their fingertips, whether they are sending money to a loved one overseas or receiving money from abroad.

“M-PESA Global reflects the evolution of customer needs in Kenya and Safaricom’s ability to anticipate and meet these needs – from facilitating inbound money transfers, domestic transfers across wallets, to now offering outbound, cross-border money transfers by connecting to the Western Union money transfer ecosystem,” said Lopokoiyit.

Western Union sees traditional remittance receiving countries as an opportunity to become remittance sending countries, including: China, Philippines, Mexico, Kenya. It reflects rising affluence and globalization of the native population as well as an increase in international workers and their associated need to send money abroad for a host of reasons, including education, travel and other personal expenses.

Kenya, a net remittance receiver at USD $2 billion, last year saw a 13 percent year-over-year rise in 2017, according to the World Bank. During the same period, outbound remittances topped USD $36 million, tracking similar growth rates, at 13 percent.

Customers in Kenya can access the new service by dialing *840# or by selecting “M-PESA Global” under the M-PESA menu on mySafaricomApp.

Safaricom and Western Union video with sub-titles

About Western Union’s Cross-Border Platform

Western Union’s cross-border, cross-currency money movement platform – including a robust digital footprint, settlement, treasury and compliance infrastructure, a vast global retail network of over half a million locations, and the ability to send money to billions of accounts and mobile wallets – sets the standard for international money movement. With operations in more than 200 countries and territories, Western Union’s platform processed an average of 32 transactions every second and moved $300 billion in principal across 130 currencies in 2017.

Connecting the digital and physical worlds of money, Western Union’s technology stack, APIs, foreign exchange and settlement engine, agent network, anti-money laundering and fraud detection capabilities make it one of the largest digital and physical money movers for consumers around the globe. The company offers digital transactions in more than 50 countries and territories. Approximately 70% of Western Union’s digital transactions globally now originate on mobile devices.

For more information, visit the Western Union newsroom.

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.

About Safaricom

Safaricom transforms lives. We provide voice, data, financial services and enterprise solutions for a range of customers, small businesses and government, using a variety of platforms. We delight over 29.9 million customers, providing over 200,000 touch points for our customers and offering over 100 different products under our portfolio. Listed on the Nairobi Securities Exchange and with annual revenues in excess of KES 200 Billion, Safaricom invested KES 38 billion in infrastructure this year, providing over 91% of Kenya’s population with 4G and 3G coverage and providing 2G coverage to 96% of Kenyans. Safaricom has harnessed its proprietary fiber infrastructure to build a dedicated enterprise business, which provides managed I.T. services to clients in the East African region.

Safaricom pioneered commercial mobile money transfer globally through M-PESA, the most successful service of its kind anywhere in the world. Launched in March 2007, M-PESA now has over 21 million active customers and over 162,800 M-PESA Agent outlets countrywide.

WU-G

Contact information

Western Union contacts:
Pia De Lima, +1 954-260-5732
pia.delima@wu.com
or
Ingrid Sahu, +971 4 437 3656
ingrid.sahu@wu.com
or
Safaricom contacts:
Safaricom PR & Corporate Communications
+254 722 005 211
prcomms@safaricom.co.ke

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Comprehensive Tumor Profiling Promises New Therapeutic Options for Patients with Advanced Cancer22.4.2019 18:00:00 EESTTiedote

Published in Nature Medicine* today, results of WINTHER, the first study pioneered by the WIN Consortium** - - Genomic and transcriptomic profiling expands precision cancer medicine: the WINTHER trial - shows that RNA profiling together with DNA testing matches more patients with advanced cancer to personalized therapies than DNA profiling for tumor mutations alone. The WINTHER trial***, NCT01856296, led by investigators from Vall d’Hebron Institute of Oncology - VHIO (Spain), Chaim Sheba Medical Center (Israel) (Raanan Berger), Gustave Roussy (France) (Jean-Charles Soria), Centre Léon Bérard (France) (Pierre Saintigny), Segal Cancer Centre, McGill University (Canada) (Wilson H. Miller), UT MD Anderson Cancer Center (USA) (Jordi Rodon and Apostolia-Maria Tsimberidou) and University of California San Diego, Moores Cancer Center (USA) (Razelle Kurzrock), aimed to expand precision oncology to patients with advanced solid tumors that progressed after treatment with standard therapies. For

PPG Advances Sustainability to Protect and Beautify the World22.4.2019 17:13:00 EESTTiedote

PPG (NYSE:PPG) today published its 2018 Sustainability Report, detailing the company’s performance and progress against its 2025 sustainability goals that contribute to its purpose and promise: WE PROTECT AND BEAUTIFY THE WORLD™. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190422005156/en/ PPG highlights progress against key economic, environment and social goals in its 2018 Sustainability Report. (Graphic: Business Wire) Last year, PPG embedded additional sustainable practices into its operations, introduced new sustainably advantaged products for customers, achieved a record low in injury cases across the company, advanced its global community engagement initiatives, and further advanced its diversity and inclusion efforts. The report is available at sustainability.ppg.com. “Our dedicated workforce continues to drive sustainability deeper into our global operations,” said Michael H. McGarry, PPG chairman and chief execu

Standard Bank Moves Business to the Cloud with Moody’s Analytics22.4.2019 16:00:00 EESTTiedote

Moody’s Analytics, a global provider of financial intelligence, announced today that Johannesburg-based Standard Bank Group has selected the Moody’s Analytics CreditLens™ solution to digitize and automate its credit processes. Built on the latest cloud-based technology, the CreditLens platform helps financial institutions digitally transform their commercial credit processes to make faster and better-informed credit decisions. With $148 billion in assets, Standard Bank Group is the largest bank in Africa by that measure. It offers banking and financial services across 20 countries in sub-Saharan Africa. This extensive footprint is part of what led the bank to pursue a cloud-based platform. “It was becoming less and less efficient to have our systems on premise across so many segments and regions, so the idea that the CreditLens platform will always be up to date with product enhancements pushed through the cloud is extremely appealing to us,” said Gordon Turnbull, Head of Credit for Bu

Landmark Deal Puts Coca-Cola at the Heart of the Entertainment Industry in MENA as the UAE’s First Indoor Venue is Named the Coca-Cola Arena22.4.2019 13:04:00 EESTTiedote

The Coca-Cola Company (TCCC) has signed a 10-year agreement for the exclusive naming rights of the brand new indoor multipurpose arena in Dubai. Now known as the Coca-Cola Arena, the breath-taking venue is the largest of its kind between Istanbul to Singapore and will further establish Dubai as a major destination for world music tours, sporting competitions, family shows and corporate events. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190422005299/en/ The Coca-Cola Arena, Dubai (Photo: AETOSWire) The venue, with an impressive capacity of 17,000, is scheduled to open in June this year. The Coca-Cola Arena will put Coca-Cola at the centre of the entertainment landscape in the region and will join a growing number of entertainment venues around the world where Coca-Cola is served. Up there with iconic locations like Piccadilly Circus in London or Times Square in New York City; the latest addition to the Dubai skyline will

Process Systems Enterprise: gPROMS FormulatedProducts 1.4 Includes Enhanced Capabilities Linking Digital Design to Digital Operations19.4.2019 10:58:00 EESTTiedote

Process Systems Enterprise (PSE), the Advanced Process Modelling company, today released version 1.4 of gPROMS FormulatedProducts, the mechanistic model-based environment for integrated digital design of robust formulated products and their manufacturing processes, and related digital process operation. This release introduces major enhancements to both the gPROMS FormulatedProducts model libraries and the underlying gPROMS platform 6.0, including morphological crystallizer and sensor models to capture particle size and shape evolution, enhanced continuous direct compression models and improved wet granulation models. Platform enhancements include support for cluster computing, to significantly speed up execution of parameter estimation and other complex numerical solutions, and comprehensive global system analysis of dynamic systems for rapid exploration of the time-varying decision space and systematic risk and uncertainty analysis. Version 1.4 also introduces two key usability enhan

LOXAM Contributes to the Reconstruction of Notre Dame De Paris Cathedral19.4.2019 10:44:00 EESTTiedote

In the wake of the Notre Dame de Paris blaze on Monday 15 April, Loxam the leading equipment rental company in Europe is playing its part in the reconstruction project of the partly destroyed cathedral. A rental operator in the construction equipment, LOXAM pledges to provide, free of charge, machines to the companies and tradesmen who will take part in these restoration works for the scheduled duration of five years. “Notre Dame de Paris Cathedral is the legacy of accomplished builders that we ought to preserve. As a committed rental operator, Loxam wishes to contribute to the rehabilitation of this monument by providing equipment for an overall 10-million € value over the upcoming five years” Gérard DEPREZ, President of LOXAM, indicates. With a fleet of over 200,000 machines, Loxam is meeting the needs of all tradesmen operating on this worksite. View source version on businesswire.com: https://www.businesswire.com/news/home/20190419005025/en/ Contact information PRESS : Virginie Ada

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme