Revolut Expands International Transfer Options With African Mobile Wallets
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Revolut, a global financial application used by over 40 million people, has shared news about the development of its global transfer feature. The firm wants to introduce 14 new payment channels in nine African nations, backed by three digital wallets: MTN, Orange Money, and Airtel Money.
The Feature Enables Quick Fund Transfers To Africa
The new service lets Revolut clients in the United Kingdom and many European countries (EEA) transfer money quickly to people in Africa.
Now, they can transfer funds to MTN in Zambia, Congo, Côte D’Ivoire, and Guinea-Bissau; to Airtel Money in Zambia, Malawi, Madagascar, Gabon, and Congo; and to Orange Money in Sierra Leone, Madagascar, Côte D’Ivoire Guinea-Bissau, and Botswana.
This feature intends to make sending money easier by permitting users to transfer cash with recipient IDs like email addresses, phone numbers, or names. This helps minimize the risks linked with old payment methods, such as wrong account information and interruptions in banking systems.
Head of Remittances at Revolut, Samuel Fairburn, stated that the firm is excited about the launch. He said the team is happy to introduce mobile wallets so customers can transfer money quickly.
Fairburn added that transferring money home to Africa is hard for many ex-pats, so having a service that makes this easy and offers cheap and simple international money transfers is essential.
African countries often use mobile wallets for many transactions, so Revolut’s new service comes at the right time. This feature makes it easy for people living abroad and students to send funds home quickly.
The Company Wants To Continue Assisting People And Families Worldwide
Fairburn also stated that by constantly changing to meet the new needs of the digital world, the firm hopes to keep helping people and families everywhere. This will help them easily handle the challenges of sending money to other countries.
Revolut has made its Business product available to individual traders in Australia, giving better financial help to small businesses.
This step is a major boost in Revolut’s goal to give quick, efficient, and cheap financial help to businesses of all kinds, helping them do well in the worldwide market.
Revolut is an international neobank and fintech company located in London, England. It provides banking services for businesses and retail customers. It was established in 2015 by Vlad Yatsenko and Nikolay Storonsky.
The firm offers human resources, stock trading, commodities, personal loans and BNPL, crypto, interest-bearing “vaults”, credit and debit cards, virtual cards, banking services, Apple Pay, currency exchange, and other services.
