Online money transfer service WorldRemit has entered into an agreement with mobile-centric international remittance centre HomeSend, to expand its money transfer services into emerging markets.
Under the terms of the deal, both companies will initially focus on the region between Europe and Africa, as well as collaborate towards building into further areas.
HomeSend, a strategic business alliance between BICS and eServGlobal, makes it possible to integrate mobile wallets or money transfer systems of two different providers.
Commenting on the agreement, eServGlobal COO Paolo Montessori said, "The HomeSend service can provide an efficient way for existing money transfer services to extend their receiving capabilities by leveraging existing mobile infrastructure and agent networks."
The partnership with HomeSend, which has a strong presence in footprint in Africa, will allow WorldRemit to expand its service into emerging markets, where mobile money services continue to spread with limited internet and banking access.
UK-based WorldRemit is an online platform enabling migrants to send remittances to family and friends in over 100 receiving countries as well as in 26 sending countries.