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

Search News

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

EFInA lifts Nigeria mobile banking with $1.5m

Enhancing Financial Innovation & Access (EFInA) boosted the mobile money sector by splashing $1.5 million or about N421.5 million from its Innovation Grant on Diamond Bank’s Diamond Y’ello Account (DYA), a mobile banking platform which was built on MTN Xaas platform.  Read More

KCB M-PESA loan disbursements cross KSh10B mark

Revolutionary mobile-based bank account KCB M-PESA has advanced KSh10.3 billion in loans to its customers since inception about two years ago, boosting access to credit in Kenya. Read More

Airtel Money, WAEC enable candidates to check their results online

Airtel Money is enabling the purchase of the West African Examination Council (WAEC) results checker pins on its platform.  Read More

Airtel Money Card is now back, with online payments

Airtel Kenya has announced the return of its Airtel Money Card, enabling card holders the convenience of shopping, online payments and easy access to funds 24 hours a day.  Read More

Daystar University pioneers smartphone-based degree programmes

Daystar University has announced a strategic partnership with OneUni to launch Africa’s first smartphone-based degree programmes, the first of which is a Bachelor’s of Education for existing and aspiring teachers. Read More

MTN Ghana stimulates discussion on cashless society

As part of its 2016 Mobile Money Month celebration in the country, MTN Ghana has revisited the discussion on a cashless society and the need for stakeholders to take a critical look at its benefits again. Read More

WorldRemit calls for urgent restoration of money transfers to Nigeria

Hundreds of global remittance companies have been forced to cease transfers to Nigeria, says WorldRemit. Read More

Mobile Money – the paradox of costly convenience

The convenience of mobile money is being offset by the increased risk of fraud, report Kampala residents. Read More

Uber Kenya faces looming drivers’ strike

Kenyan drivers for digital taxi service Uber have threatened to embark on a strike from today over fare price cuts. Read More

Uber offers cashless payments in Accra through SMSGH

Uber, the innovative app that connects riders with drivers, has revealed to Biztechafrica that it has partnered with SMSGH to provide mobile payments to the Greater Accra Metropolitan Area (GAMA).  Read More

PRESS OFFICES

Sage EnterpriseSAP AfricaTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4AfrikaNetworks UnlimitedArbor NetworksEricssonTigo Ghana

FEATURED STORY

Financial services sees AI as both opportunity and threatFinancial services sees AI as both opportunity and threat

Banking is already a key area where technology is having an impact throughout Africa, and a new survey assesses the impact artificial intelligence will have on this sector.

IN DEPTH

Access and Use of ICT stats releasedAccess and Use of ICT stats released

Statistics Botswana has released the first results of the 2014 Information and Communication Technology Household Survey.

COMPANY NEWS

Tigo explores options to give customers a greater choice for 4G services in Ghana

Following her recent visit to Ghana, Cynthia Gordon, the CEO of Millicom Africa, has emphasized the remarkable growth opportunities in data and Tigo’s commitment to giving customers ...