MasterCard moves on remittances in Nigeria and Zimbabwe

Tuesday, March 3, 2015

At Mobile World Congress, MasterCard today announced an agreement with eTranzact International plc, a leading pan-African mobile banking and payment services company, to make international remittance services available to millions of consumers in Nigeria.

Under the agreement, citizens will be able to securely receive international remittances into their eTranzact mobile money wallets or select bank accounts through the international transfer hub, HomeSend. 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, enabling Nigerians living and working abroad to send money from mobile money accounts, payment cards, bank accounts or cash outlets back home.

“For millions of Nigerians, the receipt of funds from friends and family is an important lifeline. HomeSend provides senders across the globe and the recipients in Nigeria with a convenient, safe, and cost effective money transfer channel,” says Omokehinde Ojomuyide, Vice President and Area Business Head for West Africa, MasterCard.

Source: FinExtra (link opens in a new window)

Categories
Investing
Tags
diasporas, mobile banking, mobile finance, mobile money, multinational corporation, remittances