Safaricom has partnered with Ria Money Transfer to enable M-PESA customers to receive money from North America and Europe.
This move by Safraicon empowers more than 26 million customers to receive international money transfers conveniently.
The transfers will cover over 20 countries across the world.
Ria has the second-largest money transfer network in the world with 389,000 locations across 161 countries.
Thanks to Ria’s seamless technology, customers can enjoy an omnichannel experience when receiving funds.
This is also a convenient service that will now be available to all M-PESA customers.
“This partnership will further increase the value we provide to our customers by offering them more choice and the power to receive transfers directly into their M-PESA accounts,” said Michael Joseph, CEO, Safaricom.
“We see a great partner in M-PESA, a company committed to our same goal: providing an efficient and customer-centric money transfer service to ensure funds make it into the hands of those who need it most,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment.
M-PESA Partners With Ria
Customers sending money to M-PESA through Ria will be informed of the applicable exchange rate and M-PESA transaction fee before sending money.
Transfers sent through Ria will reflect immediately in a customer’s M-PESA balance.
Recipients will not have to change their currency or visit an outlet to receive money sent to them.
Some of Ria’s top markets include the USA, Canada, UK, Australia, Spain, in addition to the majority of European countries.
M-PESA has been growing as a preferred remittance channel especially by Kenyans in the diaspora looking to send money home.
According to the Central Bank of Kenya statistics, more than 40 per cent of international transfers are now received through the service.
Launched in March 2007, M-PESA now has over 22.6 million active customers and over 167,000 M-PESA Agent outlets countrywide.