M-PESA To improve international remittance services, Safaricom Mobile Financial Services PLC has partnered strategically with CashGo and Dashen Bank S.C. Through this partnership, Ethiopians will have an easy, safe, and effective way to receive foreign currency straight into their M-PESA mobile wallets.
M-PESA As part of this partnership, Safaricom said it is excited to launch a new international remittance service that will enable Ethiopians to receive money directly into their M-PESA wallets from abroad. The introduction of this product is a significant step in providing consumers across the country with simpler access to reliable financial services. With the help of this service, users can send money, pay bills and merchants, purchase data and airtime, and withdraw cash from authorised agents. They can also receive remittances instantly.
Speaking about the partnership, M-PESA Safaricom CEO Elsa Muzollini stated, “We are collaborating with CashGo and Dashen Bank to enhance remittance services for our customers. This collaboration aligns with our objectives of providing innovative digital financial solutions and advancing financial inclusion. Through the integration of M-PESA with CashGo, we are simplifying the process for Ethiopians to receive money from abroad in a safe, convenient, and instantaneous manner into their mobile wallets. By eliminating the need for recipients to physically visit financial institutions in order to obtain funds, this service enhances financial accessibility and usability by enabling instantaneous money access on their phones.
Under this agreement, Dashen Bank will be the only bank to acquire and settle funds for remittance transactions acquired via CashGo. CashGo will provide the digital remittance platform that facilitates the transfer of funds, while M-PESA Safaricom will ensure that customers can access their money instantly through their M-PESA mobile money accounts. “I am pleased to announce Dashen Bank’s strategic partnership with M-PESA Safaricom and CashGo, which marks a significant milestone in improving international remittance services for Ethiopians,” said Asfaw Alemu, chief executive officer of Dashen This collaboration reflects Dashen Bank’s unwavering commitment to advancing financial inclusion and providing innovative solutions that meet our clients’ evolving needs.
As the only acquiring and settlement bank in this partnership, Dashen Bank will be crucial to ensuring the processing of remittance transactions in a secure and efficient manner. According to Asfaw, “We are pleased to provide a smooth, quick, and safe method for Ethiopians to receive money from overseas straight into their M-PESA wallets by fusing our financial experience with CashGo’s cutting-edge digital remittance platform and M-PESA’s mobile money services.” This collaboration demonstrates M-PESA Safaricom’s commitment to bolstering Ethiopia’s digital financial services ecosystem. Through the use of CashGo’s remittance technology, Dashen Bank’s financial knowledge, and M-PESA’s mobile money capabilities, the initiative will give millions of Ethiopians a more efficient and convenient remittance experience.