Revolut, a global financial application with over 40 million users, has broadened its Mobile Wallets feature through new collaborations with Airtel, Orange Money, and MTN. These partnerships are set to facilitate quicker and easier money transfers from Europe to Africa, enhancing the functionality of international transactions.
This expansion includes the introduction of 14 new payment corridors that connect users in the UK and most European countries to nine African nations through three major digital wallets: Airtel, Orange Money, and MTN.
This development builds on Revolut’s existing services, which already enable money transfers to Bangladesh and Kenya. It utilizes strong economic connections between Europe and Africa.
The Mobile Wallets feature allows users to send money abroad simply by using recipient identifiers such as names, phone numbers, or email addresses. This method aims to reduce the errors commonly associated with traditional banking transfers, like misdirected funds or delays.
Service Availability
- Orange Money: Now supports money transfers to Botswana, Guinea-Bissau, Côte D’Ivoire, Madagascar, and Sierra Leone.
- Airtel Money: Enables transactions to Congo, Gabon, Madagascar, Malawi, and Zambia.
- MTN: Allows services to Guinea-Bissau, Côte D’Ivoire, Congo, and Zambia.
Revolut plans to expand these services further, adding more wallet routes in the coming months to enhance its global transfer capabilities.
Impact on Customers
This feature particularly benefits expatriates and international students who must manage financial commitments in their home countries. It integrates into African countries’ daily digital transaction needs, where mobile wallets are crucial to the economic landscape.
Samuel Fairburn, product owner for remittances at Revolut, commented on the launch: “We’re delighted to launch Mobile Wallets so that Revolut customers can send money in a flash. Sending money home to Africa is a challenge many expats face and so it is essential to provide a service that simplifies this and facilitates affordable and convenient international money transfers.”
He further stated, “By continuously adapting to the evolving needs of the digital economy, we hope to continue to empower individuals and families around the world to navigate the complexities of cross-border finance with ease.”
These enhancements by Revolut are designed to provide a more accessible and efficient way for people to manage international money transfers, leveraging modern technology to improve financial connectivity between continents.
