Money transfer service reaches out to African mobile users

Mobile money transfers to Africa are to be facilitated by new remittance corridors into the region, following an agreement between wholesale carrier services provider BICS and transfer firm Xpress Money.

This agreement will enable African diaspora to transfer money back home in various increments instantly and cost effectively. Xpress Money has an international reach with 135,000 agent locations across the world. Mobile subscribers in Africa that use mobile wallet services will be eligible to receive the money transfers facilitated by the agreement.

The international remittance is facilitated by HomeSend, a global hubbing service that enables mobile-centric money transfers. HomeSend is a BICS service and connects a global community of telecom service providers, banks and financial organisations. It facilitates money transfers in real-time, enabling person-to-person transfers of cash, credit card payments or direct bank transfers.

Daniel Kurgan, Chief Executive Officer at BICS said: “The first phase of this implementation has made it possible to send money easily and rapidly through Xpress Money’s agents to mobile wallet users in Africa.”

Sudhesh Giriyan, Vice President of Xpress Money commented: “Mobile money transfers are the future of the remittance business, with BICS onboard as our partner we will be able to leverage their superior technology platform to offer our customers with a money transfer service right at their finger-tips.”

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