Vodafone announced on Tuesday it has interconnected its M-Pesa mobile payment service with MTN’s Mobile Money service in East Africa.
The agreement enables international remittances between M-Pesa customers in the Democratic Republic of Congo, Mozambique, Kenya, and Tanzania, and MTN Mobile Money customers in Rwanda, Uganda, and Zambia.
"Our agreement with MTN to connect our mobile money wallets in East Africa is a fantastic example of cooperation and interoperability between competing mobile operators. By working together, we will deliver cheaper, faster money transfers, improving the lives of many people living in the seven countries involved," said Michael Joseph, director of mobile money at Vodafone, in a statement.
The operators have also agreed to share best practice and work together to define the rules and standards of mobile remitt ances in Africa.
"Together, we aim to build a scalable model that will accelerate remittance rollout across the continent," said Serigne Dioum, head of mobile financial services at MTN.
Tuesday’s announcement follows the opening of M-Pesa’s first international corridor in March, which enables M-Pesa customers in Kenya and Tanzania to transfer funds to one another using a handset.
