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CONTACT system introduced transfers to mobile wallets in Africa, Asia and Latin America

29 March 2018

CONTACT payment system connected 15 providers of mobile wallets, operating in the countries of Africa, Asia and Latin America. Now CONTACT users can send money transfers to m-wallets in 12 countries by a simplified procedure.

Money transfers via CONTACT system can now be sent in cash and via the online platform to Guatemala, El Salvador, Ecuador, Ethiopia, Ghana, Indonesia, Sri Lanka, Malawi, Congo (DR), Nigeria, Uganda and Nepal with subsequent enrollment to mobile wallets of recipients. The service supports Airtel Money, Dialog, Dompetku, Efectivo Desde Mi Celular, Esewa, Ez Cash, Hellocash, MTN Mobile Money, Paga Wallet, Tigo Money, Vcash and is available in CONTACT POS located in Russia and CIS.

Sender must indicate the full name and date of birth, as well as the full name and mobile number of the recipient to which the mobile wallet is connected. Pay-out of transfers is available within 15 minutes after sending. Transfers are processed in US dollars (El Salvador and Ecuador) and in national currencies of countries at the exchange rate on the date of sending the transfer. The maximum amount of transfer varies from $ 160 to $ 2775 depending on the country.

"Money transfers to mobile wallets are in most demand in countries with a high level of penetration of financial services channels alternative to banking ones. For example, in West and East Africa, the number of Internet and mobile users reaches 27% and 39% of the total population respectively, and mobile wallets are the most popular way of obtaining financial services, mainly money transfers, cellular payments and microcredits, - noted Elena Gafarova, Vice-President of the CONTACT system for international development. – Transfers to mobile wallets is a brand new type of service provided by CONTACT in such countries as Kenya, Nigeria, Ghana and a number of others that will attract new users as well as increase the volume of transfers from Russia and the CIS to Africa, Asia and Latin America".