Revolut Enhances International Transfers with African Mobile Wallets

Tuesday, 28/05/2024 | 09:22 GMT by Tareq Sikder

The international transfer feature has included 14 new payment corridors in nine African countries.

The feature now supports three digital wallets: Airtel Money, Orange Money, and MTN.

Revolut, the global financial app serving over 40 million customers worldwide, has announced an expansion of its international transfers feature. The company is introducing 14 new payment corridors across nine African countries, supported by three digital wallets: Airtel Money, Orange Money, and MTN.

Money Transfers from Europe to Africa

The new feature enables Revolut customers in the UK and most European Economic Area countries to send money quickly to recipients in Africa. Specifically, funds can now be transferred to Orange Money in Botswana, Guinea-Bissau, Côte D’Ivoire, Madagascar, and Sierra Leone; to Airtel Money in Congo, Gabon, Madagascar, Malawi, and Zambia; and to MTN in Guinea-Bissau, Côte D’Ivoire, Congo, and Zambia.

Revolut’s Mobile Wallets feature aims to streamline the remittance process by allowing users to send money using recipient IDs such as names, phone numbers, or email addresses. This reduces risks associated with traditional payment methods, such as incorrect account details or delays within banking systems.

Samuel Fairburn, Product Owner for Remittances at Revolut, expressed enthusiasm about the launch, stating: “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.”

Digital Adaptation Facilitates Cross-Border Finance

The introduction of Mobile Wallets allows Revolut customers to transfer funds to four different wallets—M-Pesa, Airtel Money, Orange Money, and MTN—across ten African countries. Revolut has plans to expand these routes further in the coming months.

African countries rely heavily on mobile wallets for various transactions, making Revolut's expansion timely. This new feature provides a convenient option for expatriates and international students to send money home efficiently.

Fairburn added: “By continuously adapting to the evolving needs of the digital economy, we hope to continue to empower individuals and families around the world to navigate the complexities of cross-border finance with ease.”