October 8, 2013
New sending remittance corridors from
to key markets
announces a new agreement for the
remittance service between its strategic business partner BICS and
, a remittance service of Brastel Co., Ltd. in
is one of the top remittance sending countries in the world. The World Bank states that in 2011 Japan recorded outbound remittance flows of over
. Brastel Remit is a money transfer organisation (MTO) enabling users in
to remit money to their family and friends overseas via an online platform. Brastel Remit caters to both the foreign community in
and Japanese nationals with friends and family abroad. Brastel Remit is currently enabling users to send money to several countries in
Brastel Remit will use the HomeSend hub to reach new markets in
, as well as other CIS countries,
; utilising existing HomeSend connectivity in these countries. The first corridors are expected to launch from
and the CIS countries in the coming weeks. Following this Brastel Remit and HomeSend will launch corridors to
and African nations, continuing a progressive roll-out to other key receiving markets.
The agreement with HomeSend will enable Brastel Remit to further extend its services into emerging markets, where mobile money services continue to spread but internet and bank accounts are limited.
Paolo Montessori, CEO and Managing Director,
, said "Brastel is clearly committed to sourcing easy-to-use and economical remittance options for its users. HomeSend will bring access to the mobile wallets of our extensive collection of hub members in emerging countries around the globe.
"We are proud to work with forward thinking MTOs like Brastel. We have already commenced the work required to quickly roll out the deployment, enabling users to light up these corridors with the transfers they need."