HomeSend, the international payment and money transfer hub, has launched live remittance services for Johannesburg-based Hello Paisa, a South African money transfer operator.
A joint venture between MasterCard, eServGlobal and BICS, HomeSend is changing the way money moves around the world by bridging the gap between financial institutions, non-financial entities and mobile network operators. Through a connection to HomeSend, Hello Paisa users can now send international remittances to multiple new money transfer destinations including Kenya, Zimbabwe, Nigeria and Bangladesh.
According to the World Bank there are more than 1.8 million immigrants living in South Africa. This significant immigrant population has created a demand for cost-effective, safe remittance services in that country. The World Bank estimates that during 2014 migrants living in South Africa sent an estimated USD2.8bn in remittances to their family and friends in other countries.
HomeSend enables consumers to send money to and from mobile money accounts, payment cards, bank accounts or cash outlets regardless of their location or that of the recipient.
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