MICROCAPITAL BRIEF: Shaka Mobile and TransferTo Launch Service Facilitating Cross-Border Mobile Money Transfers

Shaka Mobile, a mobile money transfer service provider for African immigrants in the United States, has signed an agreement with TransferTo, a Singapore-based company that operates a global airtime transfer network, to allow customers in the US and around the world to send wireless recharge to their friends and relatives in Africa.

According to a TransferTo press release, “With mobile phones becoming tools of economic empowerment in developing countries, airtime recharge transfer is regarded as a key mobile feature by migrants and their family back home.”

By Stefanie Rubin, Research Associate

About Shaka Mobile:

Shaka Mobile is a mobile virtual network operator (MVNO) targeting African immigrants in the United States with value-added services such as mobile money transfer.

About TransferTo:

Headquartered in Singapore, TransferTo operates a global mobile airtime network enabling small value transfers through mobile phones so that migrants can send mobile credit from their mobile phone or through retailers, banks or money transfer companies to their friends and relatives back home.

Additional Resources:

Source Article: Press Release: Shaka Mobile offers TransferTo international airtime
transfer service to Diaspora Africans in the US

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