MasterCard
today made two announcements at the Mobile World Congress in Barcelona,
Spain, that expand mobile remittance services in Africa.
MasterCard
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. The card network also announced a partnership with Steward Bank
in Zimbabwe to make remittance services available to the bank's more
than 1.5 million accountholders.
Under
the eTranzact agreement, citizens will be able to securely receive
international remittances to 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,
according to a press release.
"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," said Omokehinde Ojomuyide, vice president and
area business head for West Africa at MasterCard.
Upon
receipt of funds into their eTranzact mobile wallets, Nigerians can use
PocketMoni, eTranzact's mobile money platform, to pay bills, top up
airtime, pay select merchants, cash out at agents or participating bank
ATMs, and send money to any bank account, PocketMoni user, eTrazact card
or mobile phone user.
MasterCard
is also using HomeSend in the deal with Steward Bank. In the next phase
of that agreement, Steward Bank's sister company EcoCash will soon
connect to HomeSend, enabling more than four million EcoCash mobile
money customers to receive remittances into their mobile money wallets,
after which they can pay bills, pay merchants, send money and cash out.
Those who hold a MasterCard Debit Companion card linked to their EcoCash
wallets will also be able to withdraw money from MasterCard-licensed
ATMs and pay for goods and services at millions of merchants that accept
MasterCard payment cards, both in Zimbabwe and internationally,
according to the announcement.
Source: Balancingact- Africa
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