Improving International Transfers with African Mobile Wallets
Revolut, a popular financial app with a user base of over 40 million globally, has unveiled an expansion of its international transfers service. This enhancement introduces 14 new payment corridors across nine African countries, bolstered by the integration of three digital wallets: Airtel Money, Orange Money, and MTN.
The latest feature allows Revolut customers in the UK and most European Economic Area countries to conveniently send money to recipients in Africa. Funds can now be transferred to Orange Money in Botswana, Guinea-Bissau, Côte D’Ivoire, Madagascar, and Sierra Leone; to Airtel Money in Congo, Gabon, Madagascar, Malawi, and Zambia; and to MTN in Guinea-Bissau, Côte D’Ivoire, Congo, and Zambia.
Revolut’s Mobile Wallets feature is designed to streamline the remittance process by enabling users to send money using recipient IDs like names, phone numbers, or email addresses. This method minimizes risks associated with traditional payment systems, such as inaccurate account details or delays within banking infrastructure.
Samuel Fairburn, the Product Owner for Remittances at Revolut, expressed his excitement about the launch, emphasizing the significance of simplifying and facilitating affordable international money transfers. Fairburn stated, “We’re delighted to launch Mobile Wallets so that Revolut customers can send money in a flash. Sending money home to Africa is a challenge many expats face, and it is essential to provide a service that simplifies this and facilitates affordable and convenient international money transfers.”
The introduction of Mobile Wallets by Revolut enhances the ability of customers to transfer funds to four different wallets—M-Pesa, Airtel Money, Orange Money, and MTN—across ten African countries. Revolut aims to further expand these routes in the coming months.
Due to the heavy reliance of African countries on mobile wallets for various transactions, Revolut’s expansion comes at an apt time. This new feature offers a convenient option for expatriates and international students to efficiently send money back home.
Fairburn highlighted the importance of adapting to the evolving needs of the digital economy, with the goal of empowering individuals and families worldwide to navigate the complexities of cross-border finance seamlessly. With Revolut’s innovative Mobile Wallets feature, users can now enjoy faster and more convenient money transfers from Europe to Africa using Airtel, Orange Money, and MTN.
