MFIC and BICS Collaborate in the International Money Transfer Business
Microfinance International Corporation (MFIC) and BICS, a leading global provider of Voice, Messaging, Roaming, Connectivity and Mobile Financial Services, will be collaborating in the international remittance business through mutual sharing of their payment networks to enhance their services.
MFIC’s ARIAS, a turn-key money transfer solution with distribution networks in 90 countries will be connected to BICS’ HomeSend solution, a global hub service which allows mobile operators to benefit from the international remittance market, offering international money transfer services, airtime exchange and roaming recharge services. This partnership will create a global network enabling financial institutions, mobile operators, money transmitters and prepaid card companies, to appeal to a wider customer base.
In this ‘win-win’ partnership, ARIAS users will be able to offer payments through their customers’ mobile phone accounts and mobile operators using the HomeSend platform, which can offer low-cost money transfer services originating from the customer’s cell phone to be received either by cash picked-up at neighbouring payment locations or credited to a bank account in 90 countries.
“Given the growing importance that mobile operators play in the area of cross-border payment, the partnership with BICS is a significant step for MFIC in pursuing its mission of making affordable, convenient and secure money transfer services available to customers worldwide,” said Kai Schmitz, MFIC’s Executive Vice President responsible for ARIAS. “ARIAS has an advantage in its adaptability to various interfaces, making it easy for us to partner with a company like BICS.”
BICS’ HomeSend solution, powered by its technology partner eServGlobal, delivers the only mobile-centric international remittance hub endorsed by the GSMA. With transfer fees significantly lower than those of traditional international remittance avenues, HomeSend allows subscribers to transfer funds from anywhere, using only their mobile phone and any type of funds, such as airtime and cash.
Frédéric Schepens, Senior Vice President Mobile Financial Services at BICS, said “The global demand for mobile international money transfers is developing rapidly and BICS is proud to have a strong partner on its HomeSend hub who will enable regions like Latin America to meet this growing demand.”
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About Microfinance International Corporation
Microfinance International Corporation (MFIC) is a Washington D.C.-based private company that aims to expand affordable and professional financial services to markets where such services have previously been unavailable or overpriced. MFIC offers ARIAS, a turn-key solution that enables clients to offer their customers immediate payments to over 90 countries at a low cost. It combines state-of-the-art processing software with worldwide distribution, enhanced automated compliance and real time multi-currency settlement. In addition to the remittance solution, the Company offers a line of products and services including compliance consulting to financial institutions under the brand name of Ascella Compliance, and operates Alante Financial, a network of financial service centers targeted to unbanked immigrants to helps remittance senders and their families back home to enhance their economic well-being.
For more information, please visit: www.mfi-corp.com.
About BICS
BICS delivers best in class global solutions for Voice, Messaging, Roaming, Connectivity and Mobile Financial Services to hundreds of telecommunication providers around the world.
With our passionate and creative teams located in Brussels, Bern, Monaco, Dubai, Singapore and New York, we continuously strive to provide our customers with the highest levels of quality, reliability and interoperability that enable them to maximise End-user value.
Our innovative approach is visible through our place at the forefront of the market consolidation and technology advancement. We are a joint venture of Belgacom, Swisscom and MTN, and have rolled out transformative Next Generation Networks (NGN). This together with our continued focus on Value Added Services for Mobile Operators and our growth strategy has enabled us to reach a world-leading position both on the International Voice and Mobile Data markets.
For more information, please visit: www.bics.com.
About eServGlobal
eServGlobal specializes in Mobile Money solutions and Value-Added Services (VAS), to help Telco Service Providers increase their revenue and gain and maintain customer ownership.
eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 60 customers in over 45 countries. For 24 years, mobile, fixed, Internet and multiplay telco providers have used our capabilities to lead and innovate in their local markets, leveraging their core assets and their trusted agent and subscriber relationships.
With 14 offices globally, eServGlobal provides full “end-to-end” and “any account to any account” Mobile Financial Services and International Money Transfers. Our HomeSend solution is the only mobile-centric international remittance hub to gain endorsement from the GSM Association.
Our Value-Added Services in promotions, loyalty, messaging and multiplay are focused around the transaction and enable service providers to engage with the subscriber in a personalized and dynamic manner. To reduce time to market and manage exposure to CAPEX, we now offer multiple licensing alternatives, including SaaS-based flexible, revenue-share pricing.
eServGlobal is listed on the Australian Stock Exchange (ESV) and the London Stock Exchange AIM (ESG).
More information at: www.eservglobal.com.