Lycamoney, MTN And BICS Launch New Remittance Corridor Between UK And Ghana
Lycamoney, the Financial Services division of the Lycamobile Group, in September announced the launch of a new remittance corridor between the UK and Ghana, in conjunction with two other enterprises: MTN Ghana, part of theMTN Group, and BICS, part of the Belgacom Group and a prominent international provider of voice, messaging, roaming, connectivity and mobile financial services.
The corridor will enable Lycamoney Card users to send money instantly and cost effectively to their relatives and friends using MTN Mobile Money services anywhere in Ghana, with the HomeSend remittance hub as a key enabler for the remittance transactions.
HomeSend is a strategic business partnership between BICS and eServGlobal, allowing the real-time transfer of any type of funds, such as airtime or money, and from various fund sources, such as eWallets, bank accounts, credit cards and cash.
MTN Mobile Money customers in Ghana will now have the opportunity to receive international money transfer from family and friends instantly into their wallets thereby giving them immediate access to their money wherever they are in Ghana,
Frédéric Salmon, SVP Mobile Financial Services at BICS said “We are delighted to work together with Lycamoney to enable international money transfers in the UK. This partnership makes it now possible for the Lycamoney prepaid card users to send money easily and rapidly to Morocco, Ghana and the Philippines, and reinforces our goal to enable a truly global mobile remittance ecosystem.”
Milind Kangle, Group Chief Executive for the Lycamobile Group commented “Money transfer is the next exciting step towards realising our strategy to service the communication, travel and financial services needs of ethnic and immigrant communities around the world. Our customers tell us that they need a simple and secure way to send money home and the HomeSend service is just what our customers are looking for.
We chose to work with BICS for this product following extensive market evaluation and research. All of our Ghanaian customers will have access to the Lycamobile Money service which will initially be accessed within the secure banking portal we provide to all Lycamoney customers. We believe there will be a rapid take up of the service as our customers benefit from this quick and inexpensive way to send money home to family in Ghana with the MTN Mobile Wallet”
Eli Hini, Commercial Senior Manager for Mobile Money, MTN Ghana says “MTN Ghana is excited to be leading innovations in the mobile wallets segment in Ghana with the launch of a service that makes Ghanaians living abroad feel even closer to their family and friends. The service can be enjoyed by all registered MTN Mobile Money customers and is instant, totally secure and very convenient.