Revolut, the global financial app serving over 40 million
customers worldwide, has announced an expansion of its international transfers
feature. The company is introducing 14 new payment corridors across nine
African countries, supported by three digital wallets: Airtel Money, Orange
Money, and MTN.
The new feature enables Revolut customers in the UK and most
European Economic Area countries to send money quickly to recipients in
Africa. Specifically, funds can now be transferred to Orange Money in Botswana,
Guinea-Bissau, Côte D’Ivoire, Madagascar, and Sierra Leone; to Airtel Money in
Congo, Gabon, Madagascar, Malawi, and Zambia; and to MTN in Guinea-Bissau, Côte
D’Ivoire, Congo, and Zambia.
Revolut’s Mobile Wallets feature aims to streamline the
remittance process by allowing users to send money using recipient IDs such as
names, phone numbers, or email addresses. This reduces risks associated with
traditional payment methods, such as incorrect account details or delays within
banking systems.
Samuel Fairburn, Product Owner for Remittances at Revolut,
expressed enthusiasm about the launch, stating: “We’re delighted to launch
Mobile Wallets so that Revolut customers can send money in a flash. Sending
money home to Africa is a challenge many expats face, and it is essential to
provide a service that simplifies this and facilitates affordable and
convenient international money transfers.”
Revolut has expanded its Mobile Wallets feature to enable faster money transfers from Europe to Africa through Airtel, Orange Money, and MTN. https://t.co/RrIRPwjLLy pic.twitter.com/6lUOQn2oSx
— The Fintech Times (@thefintechtimes) May 28, 2024
Digital Adaptation Facilitates Cross-Border Finance
The introduction of Mobile Wallets allows Revolut customers
to transfer funds to four different wallets—M-Pesa, Airtel Money, Orange Money,
and MTN—across ten African countries. Revolut has plans to expand these routes
further in the coming months.
African countries rely heavily on mobile wallets for various
transactions, making Revolut’s expansion timely. This new feature provides a
convenient option for expatriates and international students to send money home
efficiently.
Fairburn added: “By continuously adapting to the evolving
needs of the digital economy, we hope to continue to empower individuals and
families around the world to navigate the complexities of cross-border finance
with ease.”
Revolut, the global financial app serving over 40 million
customers worldwide, has announced an expansion of its international transfers
feature. The company is introducing 14 new payment corridors across nine
African countries, supported by three digital wallets: Airtel Money, Orange
Money, and MTN.
The new feature enables Revolut customers in the UK and most
European Economic Area countries to send money quickly to recipients in
Africa. Specifically, funds can now be transferred to Orange Money in Botswana,
Guinea-Bissau, Côte D’Ivoire, Madagascar, and Sierra Leone; to Airtel Money in
Congo, Gabon, Madagascar, Malawi, and Zambia; and to MTN in Guinea-Bissau, Côte
D’Ivoire, Congo, and Zambia.
Revolut’s Mobile Wallets feature aims to streamline the
remittance process by allowing users to send money using recipient IDs such as
names, phone numbers, or email addresses. This reduces risks associated with
traditional payment methods, such as incorrect account details or delays within
banking systems.
Samuel Fairburn, Product Owner for Remittances at Revolut,
expressed enthusiasm about the launch, stating: “We’re delighted to launch
Mobile Wallets so that Revolut customers can send money in a flash. Sending
money home to Africa is a challenge many expats face, and it is essential to
provide a service that simplifies this and facilitates affordable and
convenient international money transfers.”
Revolut has expanded its Mobile Wallets feature to enable faster money transfers from Europe to Africa through Airtel, Orange Money, and MTN. https://t.co/RrIRPwjLLy pic.twitter.com/6lUOQn2oSx
— The Fintech Times (@thefintechtimes) May 28, 2024
Digital Adaptation Facilitates Cross-Border Finance
The introduction of Mobile Wallets allows Revolut customers
to transfer funds to four different wallets—M-Pesa, Airtel Money, Orange Money,
and MTN—across ten African countries. Revolut has plans to expand these routes
further in the coming months.
African countries rely heavily on mobile wallets for various
transactions, making Revolut’s expansion timely. This new feature provides a
convenient option for expatriates and international students to send money home
efficiently.
Fairburn added: “By continuously adapting to the evolving
needs of the digital economy, we hope to continue to empower individuals and
families around the world to navigate the complexities of cross-border finance
with ease.”
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.financemagnates.com//fintech/revolut-enhances-international-transfers-with-african-mobile-wallets/
