Milicom Tigo Money
Millicom International Cellular
Tigo Money is a microfinance service offered by Milicom in countries where users do not have access to formal banking institutions.
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.
Nine different markets in Africa and Latin America:
– in Africa: Ghana, Tanzania, Chad, Rwanda, Senegal;
– in Latin America: El Salvador, Guatemala, Paraguay, Honduras, Bolivia;
Tigo Money is operated by Milicom, an international telecommunications and media company..
Subscription to Tigo Money is free. Tigo Money services are then paid individually.
– Withdrawing USD 1: USD 0.16
– Sending USD 1 to a Tigo Money User: USD 0.02
– Sending USD 1 to a Non Tigo Money User: USD 0.16
– Checking balance: USD 0.022
(USD 1 is TZS 2,185, as of July 2016)
– Withdrawing USD 10: USD 0.20
– Sending USD 10 to a Tigo Money User: USD 0.13
– Sending USD 10 to a Non Tigo Money User: USD 0.33
(USD 1 is GHS 3.94, as of July 2016)
– Withdrawing USD 10: USD 0.72
– Sending USD 10 to a Tigo Money User: free
– Sending USD 10 to a Non Tigo Money User: USD 0.72
(USD 1 is BOB 6.85, as of July 2016)
Goal 2: Tigo money works to advance financial inclusion which allows better financial opportunities to deal with risks such as disease, famine, food and health emergencies, among others.
Individuals excluded from banking services.
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;
– cash in by depositing money at any Tigo Agent;
– cash out by withdrawing money at any Tigo Agent.
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.
Connectivity requirement for the product/service to work (Mobile Internet, SMS, Voice, Other)
Device(s) type required for the product/service to work (Smartphone ,Feature phone, Computer, Tablet, Other [specify])
Other technology required for the service/product to work (Bluethooth, Wifi, camera, IVR, GPS, Accelerometers/Motion sensors, physiologic biosensors, biometric identifiers, SIM, Memory card (e.g microSD), other [specify])
Can the product/service work offline? If yes, specify
Is the product/service able to receive and send back information to the user?
Usage rate for the app/voice-SMS service vs number of downloads. How many people are actually using this product?
If yes, specify
Mobile data coverage required for the product/service to workDisplay order
Operating System required and Software version (Android, IOs, Windows, or other [specify])
Financial service offered with the app/ICT service
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.
Technical support provided by Tigo.
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