Remittance is the act of sending money. It can either be domestic (within a country) or international (across national borders). Ongoing growth in migration has led to significant, continuous rise in the amount of money remitted each year.
Mobile Money transfer represents an opportunity to facilitate remittance that benefits customers by providing a service that is safe, fast and cost-effective. As well as Mobile Money service providers being able to create a new way to bring funds into mobile wallets, thereby stimulating service usage and generating revenue.
International remittance & interoperability
International migration is a global phenomenon that is growing in both complexity and impact. More people live outside their country of birth than at any other time in history. This has resulted in an increased demand for payments and remittances worldwide.
Atlantic eBanc Platform natively interfaces with the HomeSend global payments hub, a joint venture of MasterCard, Tata and BICS. HomeSend is a market leading solution which enables cross-border transfer between Mobile Money accounts, payment cards, bank accounts or cash outlets from anywhere in the world, regardless of the users location.
The combination of Atlantic eBanc Platform features with a HomeSend service contract provides a solution for domestic interoperability between Mobile Money deployments, enabling cross-operator transactions to boost the growth of the Mobile Money business.