MoneyGram To Connect To The HomeSend International Money Transfer Hub

MoneyGram, (NASDAQ:MGI) a leading global money transfer and payment services company, has signed a global agreement with BICS to connect to HomeSend. HomeSend, a strategic business partnership between BICS and eServGlobal (LSE:ESG.L & ASX:ESV.AX), is a global technology hub service that enables person-to-person fund transfers.

Through the technology of the HomeSend hub, MoneyGram customers in more than 200 countries will be able remit funds to mobile accounts of HomeSend hub members across the globe. MoneyGram has 336,000 agent locations worldwide and also offers money transfer services through kiosks, along with online, mobile, and other channels.

"We’re excited about the opportunity to expand our reach to mobile money accounts across the world,” says Alex Hoffmann, executive vice president of Global Product and Emerging Channels at MoneyGram. “This agreement accelerates the expansion of our innovative and convenient self-service money transfer channels.”

The agreement will enable MoneyGram customers and agents to further connect to HomeSend’s substantial network, which includes some of the largest tier one mobile operator groups.

“We are very happy to conclude this agreement with MoneyGram, welcoming another global player to the HomeSend remittance hub,” said Daniel Kurgan, CEO of BICS. “The combination of the MoneyGram footprint with our existing remittance deployments will undoubtedly benefit all our hub members while enabling their own customers to receive funds from a wider sending basis.”

“This agreement with MoneyGram validates the power of the unique receiving network HomeSend has established,” said Paolo Montessori, CEO and Managing Director, eServGlobal. “HomeSend is opening access to a previously inaccessible receiving market by connecting to users in even the most remote areas where mobile access is the most convenient way to deliver remittances directly to a mobile wallet even when originating from traditional money transfer channels.”

Today HomeSend has live deployments in more than 50 countries and commercial contracts with mobile network operators (MNOs) and money transfer operators (MTOs).

As announced in December 2013, HomeSend will become a joint venture of MasterCard, eServGlobal and BICS, subject to the completion of the transaction.

About MoneyGram International

MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide through a global network of 336,000 agent locations – including retailers, international post offices and financial institutions – in more than 200 countries and territories. MoneyGram also offers bill payment services in the U.S. and Canada. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.

About BICS

BICS delivers best-in-class international wholesale solutions to any communication service provider worldwide. Through its Mosaic portfolio, a comprehensive, flexible and innovative suite of solutions designed to be used individually, or collectively, BICS meets the existing and future requirements of the global telecoms industry.

BICS’ headquarter is located in Brussels with regional offices in Bern, Dubai, New York and Singapore. We also have a satellite office in Beijing and local representation in Accra, Cape Town, Miami, Montevideo, Nairobi and Toronto. Our team continuously strives to provide our customers with the highest levels of quality, reliability and interoperability enabling them to maximise their end-user value. With our successful consolidation strategy, and a continuing focus on technological advancement and innovation, we have achieved a world-leading position in the international Voice and Mobile Data markets.

About eServGlobal

eServGlobal has been a source of innovative solutions for mobile and financial service providers for 30 years. eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 90 customers in over 65 countries. Our mobile money solutions put feature-rich mobile financial services at the fingertips of users worldwide, covering the full spectrum of mobile wallet, mobile commerce, recharge and agent management features. The market leading international remittance service HomeSend® is based on eServGlobal technology and offered by our strategic business partner BICS.

eServGlobal also offers a comprehensive suite of sophisticated, revenue generating Value-Added Services to engage subscribers in a dynamic manner. These services can be seamlessly integrated with our mobile money portfolio to extend loyalty and promotion offers.

Copyright Business Wire 2010

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