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Vodafone and MTN to Interconnect their Mobile Money Platforms

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Customers of M Pesa and MTN Mobile Money in East Africa will be able to transfer money to each other following an agreement between Vodafone and MTN to interconnect their mobile money services.

This interconnect collaboration between the region's two biggest mobile money operators will enable convenient and affordable international remittances between M-Pesa customers in Kenya, Tanzania, Democratic Republic of Congo and Mozambique, and MTN Mobile Money customers in Uganda, Rwanda and Zambia.

Under the terms of their Memorandum of Understanding, MTN and Vodafone will also share best practice and work together to define the rules and standards of mobile-based remittances in Africa.

MTN Group Head of Mobile Financial Services, Serigne Dioum said: "After successful launches in Ivory Coast and Benin in West Africa, we are looking enthusiastically at the collaboration with Vodafone in East Africa. Together, we aim to build a scalable model that will accelerate remittance roll-out across the continent."

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Tags: vodafone  mtn  m-pesa  mobile money  Kenya  Tanzania  Congo, The Democratic Republic Of The  Mozambique