MTN and BICS have announced that they will launch International Remittances services with MTN
Ghana, utilizing HomeSend, a mobile centric remittance hub operated by BICS and powered by its technology partner eServGlobal.
‘To start with Ghanaians living in the UK and Belgium can remit funds cost-effectively and instantly to the mobile phones of their family or friends who are MTN Mobile Money customers in Ghana, via
HomeSend,’ says Bruno Akpaka, GM mobile money, MTN Ghana. More countries are expected to be added soon.
International remittances have already become a significant portion of mobile payments, allowing subscribers to easily and quickly transfer money internationally using their mobile phones, and the market is continuing to grow as it allows access to unbanked populations. According to Informa
Telecoms & Media, by 2013, the global international MMT (mobile money transfer) gross transaction value is expected to reach $47.9 billion. Moreover, the Bank of Ghana states that remittances received by private individuals in Ghana amount to more than $1.2 billion annually.
HomeSend is BICS’ international remittance solution, and the only mobile-centric international remittance hub endorsed by the GSMA. It 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.
Pieter Verkade, executive mobile money for MTN Group said: ‘In line with our ambition to bring new services to our customers through Mobile Money, we are happy to see the start of international remittance with HomeSend in Ghana, we will follow the launch closely with a view of bringing it to our other operations later.’