Updated on April 16, 2024

·

Created on July 14, 2016

Milicom Tigo Money

Tigo Money is a microfinance service offered by Milicom in countries where users do not have access to formal banking institutions.

Content Partners
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Author

Product Description

Tigo Money financial services include money transfers, interest earning mobile money accounts, micro-credit, payments and billing. Transactions can be made from a Tigo Money agency, from the Tigo Money menu on a cellphone, or from the Tigo App, available on the App Store and on Google Play.

Note that the service is called Tigo Money in Latin America, Tigo Cash in Africa and Tigo Pesa in Tanzania.

Target SDGs

SDG 2: Zero Hunger

Target Users (Target Impact Group)

Household, Small and Medium-sized Enterprises

Distributors / Implementing Organizations

Tigo Money is operated by Milicom, an international telecommunications and media company..

Competitive Landscape

Direct competitors include Vodafone M-Pesa.

Manufacturing/Building Method

N/A

Intellectural Property Type

Select Type

User Provision Model

To access Tigo Money services, users have to - go to a Tigo agency with Valid ID and a Tigo SIM Card. Registration to the service is free; - access their account through the USSD service (eg. dialing 15001# in Tanzania, *110# in Ghana); - cash in by depositing money at any Tigo Agent; - cash out by withdrawing money at any Tigo Agent. The Tigo Money App is available for every country on the App Store and on Google Play for free.

Distributions to Date Status

9.6 million customers as of early 2015: 6.12 million of these are in Africa, 1.9 million in Central America and 1.45 million in South America.

Design Specifications

Tigo enables the users to: - Send and receive money to and from anyone on any network - Make bulk payments (eg. to businesses, employees) - Pay for the bills - Buy internet packages - Receive international remittance Tigo Money App is available in English, Aymara, Quechua, Spanish; Tigo Cash App is available is English, Spanish, French; Tigo Pesa App is available in English, Swahili.

Product Schematics

Technical Support

Technical support provided by Tigo.

Replacement Components

N/A

Lifecycle

N/A

Manufacturer Specified Performance Parameters

None.

Vetted Performance Status

None.

Safety

N/A

Complementary Technical Systems

None.

Academic Research and References

None.

Compliance with regulations

N/A

Evaluation methods

Customers’ reviews.   Reviews available on Android Google Play as of July 2016:   – 4.0/5 to Tigo Money Honduras;   – 4.5/5 to Tigo Money El Salvador;   – 4.0/5 to Tigo Pesa Tanzania;

Other Information

User guide in Spanish and videos on how to use Tigo Money.

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