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| Qtel and MoneyGram executives at the launch of the new initiative |
Under the new partnership, customers are able to send money to 284,000 local agents in 196 countries in Europe, the Americas and Asia including India, Pakistan, Nepal, Sri Lanka, Bangladesh and the Philippines.
The deal is the first in the world of its kind, and represents another incredible improvement in the customer experience delivered by Qtel Mobile Money, which is the fastest-growing financial transfer service in Qatar, a Qtel spokesman said, adding with this, Qtel became the first operator in the world to offer MoneyGram money transfer.
Transfer of the money is almost instantaneous and recipients can collect the cash safely and reliably from the MoneyGram local agents.
Mobile Money customers do not need to have a bank account to use the service, so thousands of so-called “under-banked” customers in Qatar now have a secure, effective service to send money home without worry, the spokesman said.
“With a growing number of foreign workers working on critical projects in Qatar, there is an increasing need for people to be able to transfer money safely and conveniently back home at any time and from anywhere. The service provides security, convenience and global reach, and extends these benefits to people who do not have a bank account,” Waleed al-Sayed, chief operating officer, Qtel Qatar, said.
Qtel launched Mobile Money in 2011 and has since developed a simple registration process where customers simply dial *140# on their mobiles and follow straight-forward on-screen instructions.