PayPal’s money transfer service, Xoom customers in the US, UK, Canada and Europe can now send money transfers directly to mobile wallets in key markets across Africa. This service will allow customers send money to mobile wallets in Kenya, Cameroon, Ghana, Madagascar, Malawi, Mozambique, Rwanda, Tanzania, Uganda, Zambia, and Zimbabwe. Mobile money services are being deployed rapidly across emerging markets as a key tool to further the goal of financial inclusion. According to the 2019 GSMA, State of the Industry Report , the number of globally registered mobile money accounts surpassed the one billion mark in Africa. This money transfers service expands Xoom’s offerings in Africa as the current service already enables money transfers for cash pick-up, direct banks deposits and mobile reloads to 41 countries in Africa.

Source: The Star December 11, 2020 08:26 UTC