Western Union has signed an agreement with Millicom to introduce cross-border mobile money transfers in Latin America though Millicom’s Tigo branded mobile networks.

The first cross-border money transfer service under this agreement will be launched soon in Paraguay under the Giros Tigo brand (Tigo Cash). The service will be rolled out over time in other markets in Latin America.

Specific services under this agreement will vary by country, but over time, Tigo customers in most of Millicom’s Latin American markets will be able to receive money from Western Union customers directly into their mobile accounts. They will also be able to cash out transactions at any Tigo location offering the Giros Tigo facility.

Millicom offers Mobile Financial Services and in particular in-market money transfers in Paraguay, El Salvador, Guatemala, Honduras, Tanzania, Ghana and Rwanda and will extend its offering to more services and into more markets over time.

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