New corridors extend quick, low-cost services money transfer services for users in South Africa
HomeSend, the international payment and money transfer hub, today announced the launch of live remittance services for Hello Paisa, a South African money transfer operator offering a fast and efficient way for customers to send money to friends and family in other countries.
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.
“Our mission at Hello Paisa is to offer those migrants living and working in South Africa a secure, cost effective way of sending money to their loved ones all around the world with technology at the very core,” said Mr Ahmed Cassim, CEO, Hello Paisa. “Our partnership with HomeSend enables us to further extend these important services by offering cross-border remittance to key new markets.”
“As more and more people move away from their country of birth, the demand grows for innovative methods of money transfer to enable those living away to access safe and convenient ways to get funds back to the people they care about,” said Stephen Doyle, CEO, HomeSend. “The rise of mobile money has also built a demand for international money transfer direct to a mobile wallet. We will work with partners such as Hello Paisa to provide these important services to users in South Africa and around the world.”
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.