MTN Uganda Offers Mobile Money Service

Western Union, MTN announce launch of mobile money transfer service in Uganda

March 28, 2012

1 Min Read

ENGLEWOOD, Colo. and KAMPALA, Uganda -- The Western Union Company (NYSE: WU - News) and MTN Group (JSE: MTN) today announced the launch of a mobile money transfer service in Uganda, allowing MTN customers to send and receive money across borders using just their mobile phones for the first time.

The service, announced today at a press conference in Kampala, marks the debut of an offering from Western Union that allows the more than 2 million customers of MTN’s mobile money transfer service, Mobile Money, in Uganda to add funds to their accounts that were sent through Western Union’s system. Senders send the funds as they normally would – either in-person at 450,000 Western Union Agent locations in 200 countries and territories, fromwww.westernunion.com in 22 countries or directly from a bank account in select countries. The receiver of the funds simply chooses to “pull” the transaction into a MTN Mobile Money account.

The new service also enables MTN customers to send money internationally with Western Union directly from their Mobile Money accounts for cash payout at Western Union Agent locations worldwide or to subscribers of select mobile phone companies with which Western Union has agreements.

MTN Group Ltd.

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