HomeSend and Ericsson announced on Tuesday (Sept. 27) a partnership to accelerate the adoption of international remittances via mobile across emerging markets.
In a press release, the companies said, with access to HomeSend’s network of money transfer operators (MTOs), cash agents and banks in over 200 countries, millions of Ericsson-powered mobile wallet users around the world will benefit from easier and faster international payment services.
The Ericsson Wallet Platform is now certified by HomeSend, a joint venture between Mastercard, eServGlobal and BICS. The HomeSend-Ericsson partnership will give financial service providers a low-cost, simple and fast way to connect the HomeSend global money transfer hub with Ericsson’s mobile money offering around the world. With this, mobile money users can now have new levels of flexibility, choice and value. The companies noted that Ericsson’s Mobile Financial Services solutions now also include Ericsson Interconnect, the company’s cloud-based financial transactions switching and mediation service, which aims to extend reach to financial services providers using any wallet or mobile banking platform.
“The partnership represents HomeSend’s continuing commitment to displace cash and facilitate electronic payments, advancing financial inclusion in the new global economy. Millions of new unbanked consumers will gain improved access to digital inflows from friends and relatives, as we continue to advance toward a fully open ecosystem for global mobile money remittances,” said Stephen Doyle, CEO of HomeSend, in the press release.
According to HomeSend and Ericsson, the partnership bridges the gap between finance and telecommunication service providers, enabling mobile wallet users to send and receive money from their family abroad through their mobile phones and enabling financial institutions to offer their customers the convenience of digital money transfers — regardless of their location or that of the recipient.
“By enabling fast, secure integrations to HomeSend’s remittance hub, we are providing growth opportunities for our customers. Integration with the HomeSend Hub connects Ericsson mobile wallet-powered financial service providers, and potentially other financial service providers, to a global network of financial institutions and MTOs. This represents a major advance in helping to grow mobile financial services ecosystems, whilst supporting financial inclusion,” Peter Heuman, head of mobile financial services at Ericsson, added in the press release.
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