Millicom said a partnership with TransferTo, the mobile money hub, is intended to strengthen its position as the leading cross-border remittance player in the countries where it operates in Latin America.
The agreement spans all the markets where Millicom offers its Tigo mobile money service in Central and South America: El Salvador, Honduras, Guatemala, Honduras, Bolivia, Colombia and Paraguay.
According to Millicom, Tigo Money has over 4 million mobile money users and works with more than 11,000 agents in those countries.
Millicom and TransferTo have worked together previously to enable airtime transfers to Tigo’s African and Latin American territories. Airtime transfers are used as an alternative to those sent to mobile money accounts.
TransferTo recently struck a similar agreement with Vodafone so that operators that offer M-Pesa, the mobile money service, can interconnect with sending and receiving partners globally.