Thursday, 23 September 2010

EastNets to Showcase Mobile Remittance Solution at the Workers Remittances Business Day Hosted by SWIFT in Beijing

EastNets, a leading global provider of compliance and payments solutions and services, announced today that it will be showcasing its new mobile remittance solution at the upcoming Workers Remittances Business Day, hosted by SWIFT, on the 21st of September in Beijing, at the Beijing International Hotel.

EastNets new mobile remittance solution, en.MoRe, enables consumers with a simple mobile phone to transfer money from a mobile wallet to cash at a foreign bank more easily, cost-effectively and conveniently than with more traditional remittance approaches. The new solution targets the estimated 800 million migrant workers around the globe who send money to their friends and families on a regular basis.

en.MoRe is a technology platform and payment scheme to enable banks and mobile network operators to interoperate globally. The new solution is currently in pilot phase with aggressive plans to create a many-to-many network between mobile network operators in 10 sending countries and banks in 15 receiving countries by end of 2010.

"EastNets is delighted to be showcasing our new mobile remittance solution at the upcoming Workers Remittances Business Day," said Hazem Mulhim, CEO of EastNets. "With en.MoRe, financial institutions and mobile operators have a new platform to better serve their existing customers, and tap into this growing mobile remittances market by acquiring new customers who want to utilize this service."

en.MoRe will allow mobile network operators to connect to a single hub that is already linked via SWIFT to more than 8000 banks worldwide. EastNets is currently in the process of obtaining certification for the SWIFTReady Workers' Remittance Label with its en.MoRe solution.

1 comment:

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