DEMOCRATIC REPUBLIC OF CONGO – Crown Agents Bank Ltd has signed a collaboration agreement with VodaCash SA in the innovating project of enabling international mobile payments in the Democratic Republic of Congo (DRC) through M-Pesa brand
The partnership is set to allow VodaCash, through Crown Agents Bank to assist international development organizations to further the transitioning of their payments to recipients and vendors from cash to digital, enhancing financial access, while at the same time reducing costs and delays.
Crown Agents Bank will integrate its payment gateway with VodaCash platform and services to provide an easy and secure way for international development organizations (IDOs), to pay individuals directly into their mobile wallets.
The relationship with VodaCash will give Crown Agents Bank greater coverage across the country, drawing on Vodacom Congo’s cellular network and VodaCash agent network to access previously difficult to reach locations.
“The uptake of mobile wallets in DRC means more people can now receive payments with maximum convenience and minimum cost. By partnering with Crown Agents Bank to provide this service, we can ensure payments are delivered swiftly, safely and securely”
Chris Williamson – Managing Executive, M-Pesa Vodacom
The Vodacom and Crown Agents Bank partnership marks the first in a series of planned integrations across Africa.
In the Democratic Republic of Congo, M-Pesa is the largest mobile money brand.
With 54% market share, the largest distribution coverage aims to ensure availability of float service to payment beneficiaries and a rich product ecosystem to encourage customers to do more digital transactions.
“Being able to provide payments to mobile wallets in the DRC is an important step towards financial inclusivity. Along with our well-established FX capabilities across the continent, we are building out a suite of payment services that allow us to reach those who previously were unable to access financial services,” said Steve Marshall, chief commercial officer at Crown Agents Bank.
Chris Williamson, managing executive M-Pesa at Vodacom Group, added, “The uptake of mobile wallets in DRC means more people can now receive payments with maximum convenience and minimum cost. By partnering with Crown AgentsBank to provide this service, we can ensure payments are delivered swiftly, safely and securely.”
Crown Agents Bank is a UK regulated provider of wholesale FX and cross-border payment services connected across frontier and emerging markets.
With over almost two centuries in business, they have developed deep and trusted relationships with institutions around the globe.
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