Huawei teams with Xpress Money for mobile payments in Africa
Xpress Money has joined forces with information and communications company Huawei for mobile money services targeting Africa’s unbanked population.
Huawei’s platform delivers “basic banking transactions” in developing countries. Like many other firms, it adds that its technology works on both smartphones and basic handsets.
Sudhesh Giriyan, chief operating officer of Xpress Money, says: “There are over 500 million mobile money accounts currently in use, and with Huawei servicing over 100 million of these, we’re confident this collaboration will improve the state of financial services for Africa’s unbanked.”
Recipients of Xpress Money remittances can use the service to make online and offline payments, and pay for services such as loan applications, insurance and banking.
In 2016 the World Bank reported that two billion people across the globe had no access to formal financial services, and the duo join the energetic throng seeking to tap into this market.
Huawei’s mobile money partners in Africa include Safaricom, Vodafone, Vodacom and Teasy Mobile in ten African countries; these include markets like Kenya, Ghana, Nigeria and Zimbabwe.
Xpress Money has a presence in more than 165 countries across 200,000 agent locations.
