27th Mar 2014 11:33
LONDON (Alliance News) - eServGlobal Limited said Thursday its fund transfer service business, HomeServe, with BICS, will connect MoneyGram and BICS to enable fund transfers across the world.
The HomeSend International Money Transfer Hub is a remittance tool which enables person-to-person fund transfers and is a strategic business partnership between BICS and eServGlobal.
Global money transfer and payment services firm, MoneyGram, has signed a worldwide deal with BICS to connect to the hub, which will allow its customers in more than 200 countries to remit funds to mobile accounts of HomeSend hub members.
"We're excited about the opportunity to expand our reach to mobile money accounts across the world," says Alex Hoffmann, executive vice president of Global Product and Emerging Channels at MoneyGram. "This agreement accelerates the expansion of our innovative and convenient self-service money transfer channels."
Paolo Montessori, CEO and Managing Director of eServGlobal, said "HomeSend is opening access to a previously inaccessible receiving market by connecting to users in even the most remote areas where mobile access is the most convenient way to deliver remittances directly to a mobile wallet even when originating from traditional money transfer channels."
HomeSend currently has live deployments in more than 50 countries and commercial contracts with mobile network operators and money transfer operators.
As announced in December 2013, HomeSend will become a joint venture of MasterCard, eServGlobal and BICS, subject to the completion of the transaction.
Shares eServGlobal jumped Thursday morning, trading 9.33% higher at 53.025 pence per share, one of the biggest gainers on AIM.
By Alice Attwood; [email protected]; @AliceAtAlliance
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