Homesend, an international payment and money transfer hub, has announced the launch of remittance services enabling money transfers to mobile wallets in 14 countries including Nigeria.
A joint venture between MasterCard, eServGlobal and BICS, HomeSend bridges the gap between various entities globally such as financial institutions, non-financial entities and mobile network operators, the company announced of the service delivered in alliance with TransferGalaxy, a Swedish-based online MTO (money transfer organisation).
Through a connection to HomeSend, TransferGalaxy users will be able to send money transfers to multiple mobile wallet destinations worldwide, according to the company.
The service is now live with initial corridors to the Philippines, Kenya and Somaliland. Further corridors will roll out in coming weeks to Armenia, Burkina Faso, Fiji, Ghana, Ivory Coast,Indonesia, Nepal, Nigeria, Sri Lanka and Tanzania.
Mr Yosef Mohamed, Co-Founder & CEO, TransferGalaxy says the company hopes to provide users with an easy, fast and secure service “which lets them get more of their money to the people they love.”
Under the plan, TransferGalaxy will connect to mobile wallets in countries with significant diaspora and where there is a demand for cost-effective, safe remittance services.
According to the World Bank, in 2014, migrants living abroad sent an estimated total remittance of over $75bn to their friends and family in the 13 receiving countries serviced by TransferGalaxy.
To send money by TransferGalaxy, users can access the service either through the website or an app which can be downloaded. Money can be sent from any type of debit or credit card and received directly onto the mobile wallet of the recipient. The recipient does not need to have a bank account or card.
Stephen Doyle, CEO, HomeSend, said, “HomeSend is pleased to welcome TransferGalaxy to the hub. We have made significant strides towards our goal of building the most extensive network of money transfer providers on the planet. As more and more of these corridors go live, HomeSend will play a crucial role in extending cost-effective money transfer services to those most in need. “
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.