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New remittance corridors for HomeSend in key Asian receiving
markets
Paris, 2 September 2013 eServGlobal announces a new agreement
for the HomeSend remittance service between its strategic business
partner BICS and Merchantrade Asia Sdn Bhd. Merchantrade is a
Malaysian based Mobile Virtual Network Operator (MVNO) and the
country’s leading licensed money services company. Through its
remittance service, Merchantrade offers money transfer services via
multiple modes i.e. branches, online as well as mobile money
transfer to migrant workers. Merchantrade has over 170,000 pay‐out
locations, with a strong and rapidly expanding payout presence
across South Asia and South East Asia. With its established
presence and strong distribution network, the agreement with
Merchantrade enables HomeSend, the leading international mobile
money transfer service, to further extend its reach in Asia, in
particular, in key receiving markets such as India, Bangladesh,
Myanmar, Malaysia, Sri Lanka, Indonesia and Vietnam. Merchantrade,
in turn will benefit from HomeSend’s strong network of hub members
in the more financially developed sending markets. Merchantrade is
now connected to the HomeSend hub with services expected to go live
this month. The World Bank recently released figures indicating
that an estimated “3 percent of the world’s population have
emigrated far from home in order to earn enough to support their
families … In 2012, migrants sent an estimated US$401 billion in
remittances to developing countries, a number that is expected to
reach US$515 billion by 2015 … over half of the remittances sent to
developing countries in 2012 flowed to Asia, and according to some
estimates, remittances benefit more than 70 million families.”
Paolo Montessori, eServGlobal CEO commented, “HomeSend’s global
coverage is unrivalled in the space of international mobile money
transfer. We welcome Merchantrade to the extensive list of Hub
members. “HomeSend now boasts over 1 billion potential subscribers
worldwide. On these solid foundations we are now delivering the
next phase of our strategy, to progressively connect remittance
corridors worldwide. With live corridors now lighting up the globe,
we are confident that HomeSend is solidly positioned as the largest
mobile remittance hub in the world.” HomeSend is a service offered
by BICS, its strategic business partner, based on eServGlobal
technology