Vodafone has signed a global agreement with MoneyGram to launch a service which will enable consumers in around 200 countries to transfer funds directly to users of Vodafones mobile money platform M-Pesa, either by visiting one of MoneyGrams physical locations, through a site or iOS, Android or Windows 8 app.

This service will launch in key markets starting Q2 2014, with a wider rollout planned throughout the rest of the year.

“There is huge demand for sending funds back to family and friends in your home market and an estimated $90bn (£55bn) per year is transferred to M-Pesa markets from around the globe,” said Michael Joseph, director of M-Pesa at Vodafone. “Our partnership with MoneyGram provides the most extensive global network and greatest number of access points for consumers wishing to transfer funds to M-Pesa users.”

M-Pesa is currently available in nine markets – including Egypt, India, South Africa and Kenya – where, according to World Bank estimates, more than half of the population do not have access to a traditional bank account. Vodafone says that M-Pesa will be launching in further markets later this year.