HomeSend agreement with Lycamoney enables mobile remittances between the UK, Morocco and the Philippines
Paris, 5 January 2012
Lycamoney is the financial services division of Lycamobile UK and affiliate of the multinational operator group, Lycatel.
Lycatel is one of the leading MVNO’s in Europe with over 6 million customers and a particular focus on providing services to the pre-paid international immigrant and expatriate community, the most likely to use mobile money and international remittance services. UK migrant workers sent home over $1.2Bn in 2009, according to the World Bank.
Lycamoney provides subscribers with a domestic mobile money solution, extending this scheme to offer international remittance is a natural progression. With a base of users in a developed world market, Lycamoney is expected to bring sending power to the HomeSend hub.
HomeSend continues to set the standard for international interoperability in mobile money transfer by creating a seamless connection between a variety of mobile money systems and financial institutions around the world. The HomeSend mobile remittance hub service is offered by BICS and based on eServGlobal’s technology. BICS is a leading global provider of Voice, Messaging, Roaming, Connectivity and Mobile Financial Services.
HomeSend, which benefits from a first mover advantage, is the only mobile-centric international remittance hub endorsed by the GSMA, with remittance corridors operating between countries including the UK, Qatar, the Philippines, Pakistan, Belgium, Ghana and Morocco.