Revolut Expands Mobile Wallet Partnerships in Africa for Faster International Transfers

Revolut, the global financial app with over 40 million customers, has announced the expansion of its Mobile Wallets feature through new partnerships with Airtel, Orange Money, and MTN, as outlined in Fintech Global News. This initiative enhances the ease and speed of sending money from Europe to Africa, introducing 14 new payment corridors that cover nine African countries.

These partnerships allow Revolut users in the UK and most European countries to send money to various African countries. Orange Money supports transfers to Botswana, Guinea-Bissau, Côte D’Ivoire, Madagascar, and Sierra Leone; Airtel Money facilitates transfers to Congo, Gabon, Madagascar, Malawi, and Zambia; and MTN enables transfers to Guinea-Bissau, Côte D’Ivoire, Congo, and Zambia.

The Mobile Wallets feature redefines the remittance experience by offering a low-friction, intuitive process. Users can send money quickly using only recipient IDs such as their name and phone number or email address. This reduces potential risks associated with traditional payment methods, such as sending money to the wrong account or funds getting stuck in banks.

Samuel Fairburn, product owner for remittances at Revolut, stated, “We’re delighted to launch Mobile Wallets so that Revolut customers can send money in a flash. Sending money home to Africa is a challenge many expats face, and it is essential to provide a service that simplifies this and facilitates affordable and convenient international money transfers.”

Revolut’s expansion into the African market is timely, given the heavy reliance on Mobile Wallets for various transactions in these countries. The company plans to add more wallet routes in the coming months, further enhancing its international transfer capabilities.

By leveraging strong economic ties between Europe and Africa, Revolut aims to empower individuals and families around the world to navigate the complexities of cross-border finance with ease.