Millicom claims 'first' with currency converter - Mobile World Live

Millicom claims ‘first’ with currency converter

24 FEB 2014

LIVE FROM GSMA MOBILE WORLD CONGRESS 2014:Emerging-markets operator Millicom has announced what it claims is the world’s first service to support automatic currency conversion when a subscriber makes a mobile money transfer between two countries.

The service is first available between two of Millicom’s operations in Rwanda and Tanzania, Tigo Cash and Tigo Pesa respectively.

Millicom’s President and CEO Hans-Holger Albrecht (pictured) said the initiative means “the benefits of mobile money can be extended to cross-border trade, allowing businesses and families to transfer money quickly and securely in East Africa.”

Subscribers can use the funds they receive for a variety of services, including paying utility bills and transport costs.

 

 

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Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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