London, 24 January 2017–TransferTo,
B2B mobile payments network, and Wirecard,
Europe’s leading specialist for payment processing and issuing services have
teamed up to offer a white-label mobile-to-mobile remittance service.
By leveraging Wirecard
and TransferTo expertise, Mobile
Money Operators can offer a remittance service under their trusted and
recognized brand. This solution allows the migrant diaspora in Europe to send
money home that is as simple as sending a text message, and provides them the
convenience of an immediate mobile-to-mobile transaction. Received funds are
secured in the Mobile Money Account of the beneficiaries and can then be cashed
out at any agent or used on the same phone to pay bills and merchants.
The end-to-end solution from Wirecard and TransferTo will
allow Mobile Money Operators to brand the service and deploy it quickly,
without needing to setup business operations in Europe. Operators also gain a
competitive advantage by expanding their brand and services to attract new
customers. By tapping Wirecard and TransferTo, Mobile Money Operators from
developing countries can focus on creating a frictionless experience for
migrant workers to send money home. Customer stickiness will also improve as
migrant workers trust a familiar brand from home and families receiving money
will use their mobile wallets more actively.
Mobile Money plays a key role in financial inclusion for 2
billion people in developing countries who lack bank accounts and credit cards. By using their mobile
phones to send money home, migrant workers avoid the hassle of travelling to a
shop or a bank and filling in paperwork. The mobile transfers are immediate and
Eric Barbier, CEO of
TransferTo, says, “This is the quickest way for our Mobile Money partners to
launch their brands into Europe and serve both the migrant workers sending
money home and their families receiving it. We’re extremely pleased to be helping
Mobile Money Operators harness new avenues to reach customers across borders
and deliver a fully branded experience to grow their business.”
Markus Braun, CEO at Wirecard
says, “We partnered with TransferTo
for their extensive network reach across hundreds of Mobile Money Operators and
their expertise in the emerging markets. Operators choosing to launch their own
branded solution in Europe will have the ease of Wirecard providing the
end-to-end payment solution with all requisite licenses in Europe, magnified
with the strength of TransferTo’s cross-border mobile payments network.
TransferTo is a cross-border mobile payments network, interconnecting
financial institutions and mobile operators globally. Thousands of leading
companies, including Vodafone’s M-Pesa, Tigo Money, Orange, Western Union,
PayPal and Xoom rely on TransferTo’s Mobile Money and Airtime Hub.
TransferTo provides its partners with a global compliance framework for
all relevant regulatory requirements, enabling thousands of businesses in more
than 100 countries to offer real-time Mobile Money and Airtime transfer services
to their customers. In 2016 alone, TransferTo Mobile Money and Airtime Hub
processed more than 60 million transactions.
Regulated by the Financial Conduct Authority in the UK, TransferTo links
more than 4.5 billion mobile users, through partnerships with more than 500
mobile operators. Its investors include Ingenico. For more information, please visit: https://www.transfer-to.com/
Wirecard AG is a global technology group that supports companies in
accepting electronic payments from all sales channels. As a leading independent
supplier, the Wirecard Group offers outsourcing and white label solutions for
electronic payments. A global platform bundles international payment acceptances
and methods with supplementary fraud prevention solutions. With regard to
issuing own payment instruments in the form of cards or mobile payment
solutions, the Wirecard Group provides companies with an end-to-end
infrastructure, including the requisite licences for card and account products.
Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN
DE0007472060, WDI). For further information about Wirecard, please visit http://www.wirecard.com or follow us on Twitter @wirecard.