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Western Union and Orascom Telecom join forces to pilot mobile money transfer service
The Western Union Company announced that it has created an alliance with Orascom Telecom Holding S.A.E. (“Orascom Telecom”), one of the largest mobile operators in the Middle East, Africa and Asia.
Orascom Telecom and Western Union plan to work together to introduce mobile remittance services in select markets. The services aim to make low-principal, high-frequency remittances more convenient to the millions of consumers who send money every day.
The mobile money transfer service connects mobile operators to Western Union’s for processing cross-border remittances. Once connected to Western Union’s service, mobile operators use their own “mobile wallet” software to enable person-to-person mobile money transfers over Western Union’s global remittance network. The Mobile Money Transfer service enables consumers to transfer money to or from mobile wallets and is being introduced into the global network of Western Union Agent locations for cash-to-mobile and mobile-to-cash transactions.