HomeSend, a joint venture between MasterCard, eServGlobal and BICS inked a deal with Dialog Axiata to make international remittance services available to millions of consumers across Sri Lanka. HomeSend and Azimo also announced the launch of new mobile wallet services in ten countries throughout Africa and Asia-Pacific – reaching millions of mobile money subscribers.
Dialog Axiata, Sri Lanka’s largest telecommunications provider, launched eZ Cash, which grew to become the world’s first inter-operable mobile money service with the advent of Etisalat and Hutch to the platform. eZ Cash provides a network of more than 16,000 physical transaction points in Sri Lanka and is the winner of the Mobile World Award for Best Mobile Money service at the Mobile World Congress in Spain.
The agreement announced today will see HomeSend’s hub powering remittance services globally to send money to eZ Cash accounts.
Now, 14 million customers of Dialog, Etisalat and Hutch will be able to receive money from anywhere in the world with access to the 16,000-strong eZ Cash terminals across Sri Lanka. Using the HomeSend remittance hub, WorldRemit, mHits, Azimo, PostFinance and Lycaremit will be the first partners to launch services to eZ Cash from 16 July 2015, with other partners scheduled for launch in due course.
In June 2012, eZ Cash became Sri Lanka’s first mobile money service following being awarded a license under the aegis of the Payments and Settlements Act No 28 of 2005. Custodial banking services for Sri Lanka’s pioneering mobile money service is provided by Hatton National Bank PLC (HNB).
Azimo customers in 20 European countries are now be able to send funds to mobile money accounts of loved ones in Armenia, Burkina Faso, Fiji, Ghana, Indonesia, Kenya, Nepal, Nigeria, the Philippines and Somaliland.
HomeSend, the global remittance hub, is a service that bridges the gap between various entities globally such as financial institutions, non-financial entities and mobile network operators. Through HomeSend, Azimo customers will be able to conveniently send money directly – and in real-time – to a recipient’s mobile money account linked to their mobile number versus having to send funds via an over-the-counter agent or directly to a bank account.
The World Bank estimates that global remittance market will continue to grow this year to a projected total of $586 billion, underscoring the demand for people to have access to safe and secure ways to send and receive funds.
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