Western Union Co. announced Monday that it has formed an alliance with Orascom Telecom Holding S.A.E. of Cairo to test a mobile money transfer service in the Middle East, Africa, and Asia.
The two companies plan to provide low-principal, high-frequency remittances to consumers with limited access to financial services, Western Union said.
Some of Orascom's markets — including Bangladesh, Pakistan, and Egypt — are among the world's top receivers of remittances.
Western Union, of Englewood, Colo., said its mobile money transfer service is currently available from select Western Union agent locations in the United States, the Middle East, Asia-Pacific, and Europe.
