Operator MegaFon began offering remittances between its home market of Russia and a subsidiary in Tajikistan, with cash transferred from bank accounts directly to its mobile wallet application.
The service is being offered in collaboration with microfinance company Humo, a provider targeting the provision of basic financial services in rural areas of Tajikistan.
Payments can be made on Megafon’s website in Russia with funds used to either purchase mobile services or transferred to the wallet section of the MegaFon Life app.
In a statement, the operator said its users would benefit from favourable foreign exchange rates, reliable receipt of funds and zero-commission transactions.
Humo general director Mavsuda Vaisova said the launch was one of the first steps to enabling remote financial services in Tajikistan and would contribute to the development of cashless payment systems.
MegaFon Tajikistan financial director Alexander Shamilov added the lack of commission on the services was “very important” in the country’s current economic situation, adding it would continue to develop products to increase access to financial services.Subscribe to our daily newsletter Back