admin September 29, 2017

IN Switch partners with TransferTo to bolster international money transfer services to Latin America

TransferTo, a
leading Cross-Border B2B Mobile Payments Network, and IN
Switch, a leading global technology provider
of Mobile Financial Services (MFS), have teamed up to facilitate international
money transfer services across Latin America. IN Switch has integrated its platform with
TransferTo’s extensive global Network, allowing Mobile Money Operators (MMOs) to
expand their portfolio and offer cross-border payment solutions using mobile
wallets.

Globally, there are over 2 billion adults
who lack access to formal financial infrastructure, yet 1.7 billion own a
mobile phone.¹ Mobile money plays a key role in bringing
financial inclusion to the world’s unbanked and under-banked population, and
bridging the gap between services offered in developed countries with those
available in emerging markets.

Large players including Tigo Money and Banco Central de Ecuador (BCE) have
already been using this end-to-end solution, allowing them to significantly enhance the experience
for their customers and –in turn-, increase loyalty
and revenue, everything under their own trusted and recognized brand.

By using their mobile wallets to send money
home, migrant workers avoid the hassle of travelling to a shop or a bank. This
solution allows the migrant diaspora in the United States to send money home to
family and friends across Latin America in a way that is simple, safe, and
delivered in real-time directly into the recipient’s mobile wallet.

Eric Barbier, President at TransferTo,
says, “By partnering with IN Switch, we’re
able to help Mobile Money Operators harness new avenues to reach customers
across borders and deliver a fully branded experience to grow their business.
This is the quickest way for our money transfer partners to serve both the
migrant workers sending money home and their families receiving it.”

“We partnered with TransferTo as they have an
extensive reach and experience in the emerging markets,” said Amilcar
Perea, CEO at IN
Switch. “Mobile Money
Operators can have the ease of IN Switch’s mobile financial services platform with
the strength of TransferTo’s Cross-Border Mobile Payments Network – enabling
them to focus on driving customer acquisition, scaling up services offering and growing
their revenue.”

This article is also featured in Freucuencia Online and Fintech Finance.