Mobilink Microfinance Bank Limited to launch HomeSend Remittance Service using TPS’ Moneta
Powered by Moneta Remittance Processing System, Mobilink Microfinance Bank Limited (MMBL) is proud to be the first microfinance bank in Pakistan to process international remittances sent through HomeSend. HomeSend, an international Money Transfer Operator (MTO), is a joint venture between MasterCard, eServGlobal and BICS, which enables cross-border and cross-network value transfers globally through a single connection.
The service was launched after Mobilink’s JazzCash signed an agreement with HomeSend to offer international remittance service. Under this agreement, MMBL is processing remittances sent through HomeSend by millions of non-resident Pakistanis to the beneficiaries in Pakistan.
While overseas Pakistanis can benefit from the wide reach of HomeSend’s network and its multiple money transfer channels, beneficiaries in Pakistan can enjoy the convenience of immediately collecting remittance through one of the following channels offered by Mobilink Microfinance Bank Limited:
- Cash Pick-up Beneficiaries who do not maintain bank account or those who prefer cash payment can collect remittance by presenting their original ID card/Passport along with Transaction Reference Number at collection location.
- Credit to Bank Account All bank account holders in Pakistan can receive Instantaneous transfers in their bank account within a minute by providing their Bank Name, Account/IBAN Number, and Account Title to their sender.
- Credit to JazzCash Mobile Account Beneficiaries can also receive instant credit in their mobile wallet account within a minute. They only need to provide their JazzCash Phone Number and Account Title to their sender.
- Cash to JazzCash Mobile Account Using this innovative, hassle-free service, beneficiaries can receive their counter remittance payment (Cash Pick-up) in their JazzCash Mobile Wallet Account by just dialing 4444 from their mobile phone.
MMBL’s International Remittance service is empowered by Moneta, a remittance processing solution by TPS. Moneta is a scalable, high-volume, and proven remittance processing system, which provides end-to-end processing of home remittances to banks and financial institutions. It seamlessly connects exchange houses, money transfer operators (MTOs) and the corresponding banks.
“Consumers have a growing need for fast and secure online and mobile payment services. We are glad to help beneficiaries in Pakistan receive remittances wherever they are through our innovative services that are relevant to their needs. We look forward to working with TPS to offer innovative solutions to consumers in Pakistan.” – Ghazanfar Azam, President & CEO, Mobilink Microfinance Bank Limited
“TPS continues to play its part in developing the digital payment landscape in Pakistan. Using our remittance processing solution, millions of non-resident Pakistanis are able to immediately send remittances to their loved ones in Pakistan. It gives us immense pleasure to support Mobilink Microfinance Bank Limited in its drive towards digitization of banking services.” – Shahzad Shahid, CEO, TPS
