Paris, 11 February 2011
eServGlobal announces an agreement for the HomeSend remittance platform between BICS and MTN Ghana
The agreement provides for MTN Mobile Money customers in Ghana to receive funds to their mobile phone via the HomeSend Remittance Hub. MTN will follow the launch closely with a view to bringing it to MTN’s other operations later.
This new agreement provides increased choice and convenience for Ghanaians living or working overseas, starting with the UK and Belgium, when sending money home to their families and friends in Ghana.
According to Informa Telecoms & Media by 2013 the global international mobile money transfer gross transaction value is expected to reach $47.9 billion. Moreover, the Bank of Ghana states that international remittances received by private individuals in Ghana amount to more than $1.2 billion annually.
The agreement with MTN Ghana is of particular significance, as they are the first member of a major operator group to join the hub.
The HomeSend mobile remittance hub is based on eServGlobal’s technology and offered through BICS (Belgacom International Carrier Services). It is operated by both companies on a commission-based revenue share model. HomeSend, which benefits from a first mover advantage, is the only mobile-centric international remittance hub endorsed by the GSMA.
With existing remittance corridors operating between countries such as The UK, the Philippines, Belgium and Morocco, HomeSend allows subscribers to transfer any type of funds, such as airtime and cash, using only their mobile phone. Various fund sources can be used such as eWallets, bank accounts and credit cards. HomeSend transfer fees are also significantly less than those of traditional international remittance avenues.
“HomeSend has been developed with the specific objective of providing the world’s 200 million international migrant workers with access to a cost-effective and easy-to-use mobile money transfer service,” said Craig Halliday, CEO, eServGlobal, “We are proud to be developing innovative technologies that will fundamentally change the way that these people can send their money around the world.”