MFIC connects to HomeSend

Paris, 27 October 2010

Microfinance International Corporation (MFIC) and BICS 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.”

Image: Flickr/AMISOM Public Information

Nicola Peters