Millicom launches international mobile money service with currency conversion

HansHolgerAlbrecht MillicomMobile money will allow businesses and other customers to transfer money quickly and securely in East Africa, according to Hans Holger Albrecht. (Image source: Millicom)Mobile money users in Africa will for the first time be able to transfer cash across borders with a currency convertor also included

Two of Millicom’s branches in Africa are rolling out a new international money transfer service which will also be made available globally, the company revealed.

Tigo Cash users in Rwanda and Tigo Pesa customers in Tanzania will be able to transfer money to friends and relatives without having to travel and queue at a bank or money agent, Millicom said.

The service gives users access to a range of services in each country, including airtime top-ups, payments for water, electricity cash withdrawals at any Tigo agent and transfers to other mobile money customers.

“This innovation means the benefits of mobile money can be extended to cross-border trade, allowing businesses and families to transfer money quickly and securely in East Africa. It’s just another example of how Millicom adapts to its customers’ needs with digital solutions,” said Millicom’s President and CEO Hans-Holger Albrecht at a keynote session at the global industry Mobile World Congress event in Barcelona.

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