BICS and Xpress Money Partnership Expands Mobile Remittances to Africa

Brussels, Belgium & Dubai, UAE: 24^th October, 2012, BICS, a leading global provider of wholesale carrier services and a pioneer in the mobile financial services market, today announced an agreement with Xpress Money, one of the world’s fastest growing money transfer companies, to open new mobile remittance corridors towards Africa. The agreement will facilitate money transfers to mobile subscribers in the region.

This agreement will enable African diaspora to transfer money back home in various increments instantly and cost effectively using Xpress Money’s safe, and secure, service. Xpress Money has an international reach with 135,000 agent locations across the world. Mobile subscribers in Africa that use mobile wallet services will be eligible to receive the money transfers facilitated by the agreement.

The international remittance is facilitated by HomeSend, a global hubbing service that enables mobile-centric money transfers. HomeSend is a BICS service, based on technology of eServGlobal, its strategic business partner, and connects a global community of telecom service providers, banks and financial organisations. It facilitates money transfers in real-time, enabling person-to-person transfers of cash, credit card payments or direct bank transfers.

Daniel Kurgan, Chief Executive Officer at BICS said: “This agreement with Xpress Money will open up new remittance corridors and expand the scope of international money transfers. The first phase of this implementation has made it possible to send money easily and rapidly through Xpress Money’s agents to mobile wallet users in Africa. Xpress Money now has access to the network of service providers connected to the HomeSend Hub, contributing to our goal of building a global mobile remittance ecosystem.”

Sudhesh Giriyan, Vice President of Xpress Money commented: “We at Xpress Money have been looking to provide our customers with increasingly innovative products and services that match their hectic lifestyle; this partnership with BICS is a step in the same direction. We are happy to offer our customers around the world an easy to use service that will enable them to send money to their loved ones in Africa even when they are on the move. Mobile money transfers are the future of the remittance business, with BICS onboard as our partner we will be able to leverage their superior technology platform to offer our customers with a money transfer service right at their finger-tips.”