eZ Cash, operated by Dialog Axiata, Sri Lanka’s leading Mobile Network Operator, and TransferTo, (https://www.transfer-to.com), leading Cross-Border Mobile Payments Network, have partnered to expand international money transfer services to Sri Lanka.
In Sri Lanka and other emerging economies, remittances are an important source of income. Remittances to Sri Lanka have an estimated value of 8.5 percent of GDP and in 2015, grew by 10 percent. eZ Cash, powered by TransferTo’s Network, provides mobile money services to millions of Sri Lankans working overseas to send money home to their loved ones. By sending a Mobile Money remittance, families receive it instantly, securely and easily. Mobile Money is on average, more than 50 percent cheaper than using traditional remittance services . This helps families depending on remittances to receive the maximum funds and use it toward buying food, paying bills and education.
Eric Barbier, CEO of TransferTo, says, “TransferTo is committed to providing a seamless solution for international money transfer services to reach billions across the emerging markets. Sending money home should be as simple as sending an SMS to the people who count. No one should worry about when they might receive it or how complicated it might be to get the actual funds. Network partners of TransferTo can now offer money transfers direct to eZ Cash to better serve their customers.”
Fariq Cader, Vice President at Dialog Digital Services says, “eZ Cash is Sri Lanka’s leading mobile money service providing financial access across the underserved, newly banked and urban populations. We’re pleased to expand eZ Cash availability globally through TransferTo and give Sri Lankans working away from home, the peace of mind to send money to their families. They will know that money sent home will be received safely at any time or day of the week and can be used instantly to make purchases, pay bills or withdrawn as cash across our network of 16,000 agents.”
eZ Cash is available to all Dialog, Etisalat and Hutch customers with over 2.6 million registered customers and a network of over 20,000 merchants.
TransferTo operates a Cross-Border Mobile Payments Network for emerging markets, processing transactions in real-time for duly licensed financial institutions and merchants. TransferTo offers solutions for businesses providing remittance, push payment and merchant payment services. Leading companies around the world, including Vodafone’s M-Pesa, Airtel Money, Tigo Money, Western Union, Xoom and PayPal, rely on TransferTo’s Mobile Payments solutions for digital payments. For more information, please visit http://www.transfer-to.com
About eZ Cash
Sri Lanka’s pioneering mobile money service was launched in June 2012 by Dialog Axiata, enabling subscribers to send and receive money directly via mobile, plus, conduct utility and institutional payments. With the advent of Etisalat and Hutch on to the network, eZ Cash has grown to a subscriber base of over two million Sri Lankans with over 20,000 agent locations and merchant points island wide. eZ Cash is the winner of the Global Mobile Award for Best Mobile Money Service at the GSMA Mobile World Congress 2015. eZ Cash became Sri Lanka’s first mobile money service following being awarded a license under the aegis of the Payments and Settlements Act No 28 of 2005.