Express Union & MTN Mobile Money Lead the Market as per Digital Innovations in January 2017

The remittance market in January 2017 witnessed 5 major activities including the launch of 3 new digital solutions and the signing of 2 partnerships.  More than 70% of the market activities were driven by innovative technology through the launch of new digital solutions, particularly, the Express Union bank cards and MTN Mobile Money’s international remittance service in Africa.

MTN Mobile Money launched its international mobile money services to 24 African corridors. Express Union introduced 3 new digital services including online remittance via her website, Express Union Cards and Express Union VISA Cards to meet both remittance and banking needs. Orange Cameroon partnered with Afriland First Bank to gain access to the Mobile Account Connect (MAC) platform in order to provide Account to Mobile services to its users.

The increasing integration of digital solutions and services in remittances continue to avail great prospects for the Cameroon market. Mobile Money, in particular, is increasingly providing more opportunities to boost financial activity and growth. Today, users can shop, pay bills, bank, remit locally and internationally using their mobile wallets.

 

Major Hightlights of the Cameroon Remittance & Mobile Money Market in January 2017

 

Partnership Development

January 2017 witnessed the signing of 2 partnerships. These deals include:

  • Express Union partnered with Beneficial Life Insurance, following its deal with AREA Insurance, to allow Beneficial Life customers as well as new prospects to easily subscribe to their respective premiums. This deal also makes it possible for the insured to avoid long queues at the insurer’s locations and pay their premiums directly using their mobile wallets (EU Mobile).
  • Orange Money Money partnered with Afriland First Bank so as to connect to the Mobile Account Connect (MAC) platform and provide Account to Mobile services to its customers. This deal allows Orange Money to join MTN Mobile Money on MAC and also increase its bank network to two (Ecobank and Afriland First Bank)

 

New Digital Remittance Solutions

 

Giving the trendy digitalization of financial services with innovative technological solutions, January 2017 the launch of 3 new digital solutions including:

  • MTN Mobile Money extended its local mobile money service across the border to 24 African corridors namely: Benin, Burkina Faso, Cameroon, Congo, Ghana, Guinea Republic, Ivory Coast, Liberia, Nigeria, Rwanda, South Africa, Swaziland, Uganda and Zambia, Gabon, Kenya, Lesotho, Madagascar, Malawi, Mali, Mozambique, Niger, DRC, Senegal, Sierra Leone, Tanzania, Chad, Uganda.
  • Express Union upgraded its service package with three new services including: online remittance services, Express Union cards and EU VISA cards for both remittance and banking transactions. Express Union intends to open about 400 ATM points nationwide to guarantee the smooth operation of her customers’ transactions (remittance, withdrawals, account checks, etc.)

 

Illustrative Pictures 

eu mobile mtn
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