Xpress Money is known as one the most reliable money transfer brands in Africa. The company has partnered with ICT Company, Huawei to offer money transfer services to the most unbanked parts of the world with Africa being on top of their list. The ICT Company has a total of more than 100 million mobile money accounts worldwide and through the partnership; Express Money will have a chance to get the Huawei money services platform.
Huawei’s mobile money services platform gives basic banking services in the developing countries. The technology has no restriction on any devices both smartphone and normal handsets making it more successful in developing countries. The Express Money is in a position to use the technology in making payments either online or offline; settle important bills like utilities and school fees, at the same time acquire financial services like banking, insurance and loan application.
According to David Chen, director of marketing & solution sales at Huawei Southern Africa Region, the ICT Company wants to give the best remittance services to their clients. Africa is seen as an important market in the mobile money transfer market, and it calls for good service delivery to maintain the customers. According to World Bank, by 2016 2 billion people across the world could not get financial services. That has made mobile money to be the safer preference for cash transfer.
Currently, there are more than 500 million mobile money accounts in use, and Huawei alone is serving more than 100 million of the number. Therefore, the partnership will better the state of financial service for the unbanked population in Africa. The collaboration will help in cutting down the cost of remittance service and push for financial inclusion for millions of mobile money customers within Africa.
Xpress Money is currently serving over 165 countries globally with 200, 000 agent locations offering fast, secure and simple money transfer services to many clients annually. Huawei Money has collaborated with data providers like Safaricom, Vodafone, Vodacom and Teasy Mobile in ten African countries that are seen as huge markets and they include; Ghana, Zimbabwe, Nigeria, and Kenya.