Safaricom has partnered with Ria Money Transfer, to empower more than 26 million M-PESA customers to receive international money transfers from over 20 countries across the world.
Through the service, MPESA customers will be able to send and receive cash instantly.
Customers sending money to M-PESA through Ria will be informed of the applicable exchange rate and transaction fee before sending money.
Transfers sent through Ria will reflect immediately in a customer’s M-PESA balance saving recipients the trouble of currency conversions or having to visit an outlet to receive money sent to them.
Chief Executive Officer Michael Joseph said this will make it convenient for M-PESA customers to access cash instantly across the world.
“This partnership will further increase the value we provide to our customers by offering them more choice and the power to receive transfers directly into their M-PESA accounts,” said Joseph.
Some of Ria’s top markets include the United States of America, Canada, the United Kingdom, Australia, Spain, in addition to the majority of European countries.
M-PESA has been growing as a preferred remittance channel especially by Kenyans in the diaspora looking to send money to their families back home.
According to the Central Bank of Kenya statistics, more than 40 percent of international transfers are now received through the service.