Agriculture
February 23, 2024
Updated on April 16, 2024
·Created on July 14, 2016
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.
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.
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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