Revolut, the worldwide financial app with 40 million customers, has revealed an extension of its international transfer service. The firm is adding 14 new payment routes in nine African nations, backed by three digital wallets: Airtel Money, Orange Money, and MTN.
Managing money transfers from Europe to Africa
The latest addition allows Revolut users in the UK and most European Economic Area nations to swiftly send money to individuals in Africa. Specifically, funds can now be transferred to Orange Money in Botswana, Guinea-Bissau, Côte D’Ivoire, Madagascar, and Sierra Leone; to Airtel Money in Congo, Gabon, Madagascar, Malawi, and Zambia; and to MTN in Guinea-Bissau, Côte D’Ivoire, Congo, and Zambia.
Revolut’s Mobile Wallets aim to simplify remittance by enabling users to send money using recipient IDs like names, phone numbers, or email addresses. It minimizes risks linked to traditional payment methods, such as errors in account information or delays in banking systems.
Revolut statement on its enhancement
Samuel Fairburn, the Product Owner for Remittances at Revolut, shared his excitement regarding the launch. He expressed, “We are thrilled to introduce Mobile Wallets, allowing Revolut customers to send money instantly. Sending money back home to Africa poses a challenge for many expats. Providing a simplified service that enables affordable and convenient international money transfers is crucial.”
Cross-Border Finance Made Easy by Revolut
Introducing Mobile Wallets enables Revolut customers to transfer funds to four different wallets in ten African countries – M-Pesa, Airtel Money, Orange Money, and MTN. Revolut aims to extend these services to more routes in the upcoming months.
African nations heavily depend on mobile wallets for diverse transactions, making Revolut’s expansion opportune. This new functionality offers a convenient choice for expats and international students to efficiently send money back home.
Fairburn stated, “Our aim is to adapt to the changing demands of the digital economy, empowering individuals and families globally to navigate cross-border finance effortlessly.”