WorldRemit introduces overseas transfers to MTN Mobile Money in Cameroon
Instant Mobile Money remittances available for diaspora
Leading digital money transfer service WorldRemit today launches instant overseas remittances to MTN Mobile Money accounts in Cameroon.
With the WorldRemit app or website, the Cameroon diaspora can send secure money transfers direct to the phones of their friends and relatives in Cameroon – meaning no more long journeys to money transfer agents.
WorldRemit sends more money transfers to Mobile Money accounts than any other provider, partnering with 34 services in 26 countries. Over half of WorldRemit’s money transfers to Africa are now received on Mobile Money accounts.
Mobile Money is increasingly becoming the preferred way to send, store and receive money in Cameroon. With only 12% of adults in Cameroon holding bank accounts, Mobile Money provides a way to access financial services using just a phone.
MTN Mobile Money has over 2.6 million registered users in Cameroon. Thanks to MTN, Mobile Money users in Cameroon can pay bills directly from their phone, pay for fuel, pay for items at local stores, restaurants and hotels, purchase rail tickets on Camrail, pay for funeral insurance, pay University tuition fees and even receive their salary directly into their Mobile Money account.
Philisiwe Sibiya, CEO at MTN Cameroon, said: “As a leading provider of Mobile Money services in Cameroon and in our strive to develop the digital economy through the provision of innovative, simple and affordable solutions that add value to the lives the population, it made perfect sense for us to partner with WorldRemit, the leading sender of remittances to Mobile Money services worldwide. We’re delighted to provide a new, convenient way for people in Cameroon to receive much-needed remittances on their phones using our world-class network.”
Catherine Wines, co-founder and executive director at WorldRemit, comments: “At WorldRemit, we are pioneering Mobile Money remittances through alliances providers around the world. Our partnership with MTN means that Cameroonians now have a secure, instant and convenient way to receive remittances on their phones.”
Remittances play an important role in Cameroon’s economy - Cameroon received $244m in remittances in 2015 according to the World Bank.