MasterCard, eServGlobal and BICS have formed a new global remittance venture, MasterCard announced in a December 18 press release.
HomeSend will focus on providing consumers with a means to transmit money to and from mobile money accounts, bank accounts, cash outlets and other locations around the world.
"HomeSend will provide an important platform to deliver improved remittance services, and bring person-to-person transfer capabilities to more financially underserved consumers around the globe,” Ed McLaughlin, chief emerging payments officer for MasterCard, said in a statement. “MasterCard, eServGlobal and BICS each brings its own unique contribution to the newly formed entity. Collectively, we have an opportunity to improve people’s lives.”
To learn more about the joint venture, read MasterCard’s full press release by clicking here.
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