Tigo Honduras, owned by Millicom, has reached 1 million users for its Tigo Money service, El Heraldo reports. The service had been launched in January 2011. Tigo currently has 2,600 agents nationwide for its Tigo Money service.
Tigo Money service allows users to send actual cash to others in Honduras via their cell phone and can be claimed at national banks.
Millicom ended the fourth quarter with almost 9.5 million active users in the mobile financial services (MFS) segment. Millicom offers mobile financial services in Latin American and African markets under the Tigo Money brand. At the moment Tigo Money is a domestic remittance service. Users can send and receive money via any of Tigo’s agents. The service enables users to send or receive money via SMS. The amounts remitted can range between .64 cents up to $320 USD.
Tigo hopes that once users become more familiar with the service, the platform will evolve to offer a further an array of OTC and m-wallet services in the near future.