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Safaricom M-Pesa transfers across borders hit Sh17bn

Published on January 04, 2016

The value of cross-border M-Pesa transactions has hit Sh17 billion four years since the service was introduced, indicating a high growth potential for mobile money transfers in facilitating international remittances and business transactions.

Safaricom signed its first international mobile money transfer agreement with the Western Union in 2011. This was followed by another agreement with Money Gram in 2014, allowing the firm to it to tap a chunk of transaction commissions from international remittances. Read more. Source | Business Daily