New remittance corridors provide quick, low-cost money transfer options to Armenia
HomeSend,
the international payment and money transfer hub, today announced the launch of
remittance services to MobiDram,
an Armenian mobile financial service provider and subsidiary of Vivacell-MTS, Armenia.
HomeSend,
a joint venture between MasterCard, eServGlobal and BICS, is changing the way money moves around
the world by bridging the gap between financial institutions, non-financial
entities and mobile network operators.
The
first sending partners to connect to MobiDram via HomeSend are money transfer
organisations, WorldRemit and Skrill with more partners to connect in the near
future. The remittance corridors are now live, offering a quick, convenient and
low-cost way for people to send money direct to the MobiDram mobile wallets of
their loved ones in Armenia.
HomeSend
allows sending parties, such as money transfer organisations, to connect to
mobile wallets in countries with significant diaspora and where there is a
demand for cost-effective, safe remittance services. According to the World
Bank, remittances contributed more than US$2bn to Armenia's economy in 2014, equivalent to almost
20% of it GDP. There are at least 780,000 Armenians working abroad; the total
number of Armenians in the diaspora is thought to be larger than the country's
population.
With
82% of Armenia's adult population without a bank
account, mobile financial services, such as MobiDram, hold great potential for
the 3.3 million mobile subscribers in the country, especially those who are
recipients of remittances.
Kim Avanesyan, General Manager, MobiDram,
said, "Our mission at MobiDram is to connect our users to the latest
innovations in mobile money. We are always looking for ways to enrich our
mobile wallets with new life-improving features. A single connection to
HomeSend allows our users to receive money transfers from their loved ones
around the world direct to their MobiDram mobile wallet."
Stephen Doyle, CEO, HomeSend,
said, "We are pleased to share this good news which reinforces the
integral role that HomeSend plays in connecting some of the largest players in
the money transfer market today. We are proud to be the technology solution
powering low-cost, instant money transfer services to users worldwide."
Through a connection to the HomeSend
hub, service providers can enable their consumers to send money to and from
mobile money accounts, payment cards, bank accounts or cash outlets regardless
of their location or that of the recipient.
About MobiDram
MobiDram started its operations in
several VivaCell-MTS branches providing the services such as utility payments
collection, bank transfers, international transfers, etc. With MobiDram, you
enjoy the freedom of managing your time when you settle your bills, or transfer
funds, while you are sipping your coffee, sitting up in your office or
stretching out on your favourite sofa. MobiDram payment system is a mobile and
online financial solution on the Armenian market that gives opportunity to make
easy and fast money transactions anywhere, anytime. With MobiDram users and get
transactions done instantaneously: regularly send and get funds, pay bills 24/7
via your mobile or online. MobiDram is absolutely secure and amazingly
fast.
About
HomeSend
HomeSend is a joint venture created by
MasterCard, eServGlobal and BICS that enables B2B cross-border and
cross-network value transfers through a single connection. It builds on the
successful deployment of mobile enabled person-to-person transfers in emerging
markets and the digitalization of money transfer services. The HomeSend service
innovatively bridges the gap between finance and telecommunication service
providers and enables consumers to send money to and from mobile money
accounts, payment cards, bank accounts or cash outlets - regardless of their
location or that of the recipient.
Source: PR News
URL: http://www.prnewswire.com/news-releases/homesend-enables-mobile-money-transfers-to-mobidram-armenia-540054421.html
Date: 06/11/2015
Time: 10:14 GMT
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