Mobile Money Without Borders: How a new model is transforming the remittance landscape in West Africa
By Claire Scharwatt and Chris Williamson // Thursday, April 23, 2015
The GSMA recently released a case study that highlights early results from a promising new model for cross-border remittances. In this blog post, Claire Scharwatt and Chris Williamson share some insights into this new model, which they believe is transforming the remittance landscape in West Africa.
Mobile network operators (MNOs) that were already providing domestic P2P transfers through their mobile money services quickly recognised an opportunity to leverage their transactional platforms and distribution networks for international remittances. To date, this has mostly taken the form of receiving partnerships with established Money Transfer Operators (MTOs), such as Western Union or MoneyGram. But recently, the industry has been experimenting with a new model that uses mobile money as both a sending and receiving channel. This allows operators in developing markets to target key intra-regional corridors.