MoneyGram partners with SA’s FNB

VALUE ADDED SERVICES

|
Image: Guillaume Dewael of MoneyGram and FNB CEO Michael Jordaan. By FNB
Guillaume Dewael of MoneyGram and FNB CEO Michael Jordaan

Global money transfer company MoneyGram has officially signed on First National BANK (FNB) in South Africa.

South Africa is the third largest recipient of African migrants in the world, estimated at 1,86m individuals. Close to 900 000 South Africans have also left their country of birth and then send money back to their families. Almost 50% of all remittance users remit funds once a month.

MoneyGram says the new partnership brings the number of agents in South Africa to 3 and total network of around 976 locations, doubling its current footprint in South Africa.

Plans are already in place to develop three additional channels for the service, starting with mobile, ATMs and then online. The mobile channel is expected to be ready within the next two months.

“MoneyGram International is excited to officially launch the FNB MoneyGram service. This will afford MoneyGram customers in South Africa an opportunity to either send or receive their remittances through all FNB locations, giving them increased convenience of a large agent network”, said Guillaume Dewael, MoneyGram VP for France-Africa-Benelux.

“Whilst we are certainly not the first bank to offer remittances such as MoneyGram, we do believe that we have enhanced the customer experience to making it quick, easier and more affordable for FNB customers in both customer facing and electronic channels,” said Michael Jordaan, CEO of FNB.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

MTN Swaziland offers mobile financial services with Ericsson

MTN has deployed Ericsson Converged Wallet to provide a premium mobile money experience for more than 275,000 mobile wallet users and 3,000 agents in Swaziland. Read More

Airtel, Kenya Red Cross launch public emergency information service

Bharti Airtel has teamed up with Kenya Red Cross Society to launch the first of its kind public emergency information service in Kenya. Read More

EcoCash gets SA approval

EcoCash and its South African partners have secured approval from the South Africa Reserve Bank to start a cross border remittance service from South Africa. Read More

KTDA, Safaricom partner on cashless payment

Leading tea management agency, Kenya Tea Development Agency (KTDA), has partnered with Safaricom to roll out a cashless payment solution at all its 66 factories across the country. Read More

Airtel launches first mobile tap and pay system in Ghana

Airtel Ghana has added another first to its credits as it has rolled out an innovative service through their Airtel Money that allows a tap and pay, contactless payment based on the Near Field Communications (NFC) technology.  Read More

Vodafone gives hope to Ghanaian Farmers with Vodafone Farmers Club

Ghanaian farmers can now receive relevant crop and location specific information in their own language through a bespoke SIM card. Read More

Standard Bank introduces a first in SA: smart watch banking

Standard Bank today announced plans to embrace wearable technology, with the forthcoming release of its Apple Watch banking app in SA. Read More

Prepay Nation, Airtel Kenya to offer international mobile top-up

Prepay Nation, a leading provider of cross-border prepaid mobile airtime transfers, has announced its partnership in Kenya with Bharti Airtel. Read More

SimbaPay launches international access to M-Pesa PayBill

SimbaPay has launched the first product to allow Kenyans living abroad to make M-Pesa PayBill payments.  Read More

HomeSend named Best Payment Product in Africa

HomeSend, an international transfer hub created by MasterCard, eServGlobal and BICS, has been named “the Best Payment Product in Africa” at the Asian Banker Middle East and Africa Awards.   Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

IHS plans to inject fresh $500m to grow capacityIHS plans to inject fresh $500m to grow capacity

Mohammed Darwish, managing director of IHS Towers, says the firm will soon inject another $500million into the business after raising some $2.5billion to finance expansion drives. Darwish spoke with biztecafrica.com in Lagos.

IN DEPTH

As curtain falls on MDGs, what next?As curtain falls on MDGs, what next?

Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.