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MoneyGram Expands Mobile Money Transfer Reach

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The money transfers service, MoneyGram says that it has signed an agreement with BICS to connect to HomeSend, a service that enables mobile money transfers.

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 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."

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.

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Tags: moneygram  bics  mobile money