Western Union cooperates with Maxis to launch m-money transfer

image The Western Union Company, a global leader in money transfer, and Maxis Communications Berhad (Maxis), Malaysia’s leading mobile communications service provider, announced today that they are working together to launch a service that would allow Maxis subscribers to send cross-border remittances directly from their mobile phones. The service is expected to be rolled out in early 2010.

With the launch of the service, more than 11 million Maxis subscribers in Malaysia will be able to send funds from their mobile phones. The recipient will be able to pick up the funds in cash at more than 345,000 Western Union Agent locations in 200 countries.

The joint service with Maxis will mark the first time that Western Union has enabled mobile money transfer transactions from a mobile phone (a “mobile send”) outside the United States.

Claire Featherstone, Head of M-Commerce of Maxis, said, “This partnership sees two leaders in their fields coming together to provide customers with unprecedented access to a global mobile money transfer service that cuts across borders and processes, simplifying lives. With this service, our customers will be able to send money to almost anywhere in the world from their mobile phones, from wherever they are in Malaysia and at any time.”

The new service will be priced competitively and will mainly benefit the large numbers of foreign workers in Malaysia, providing convenience and efficiency in global funds transfers. In 2008, more than US$6.4 billion (RM22.3 billion) in remittances was sent out of Malaysia. Many of these remittances were sent by the estimated 1.9 million foreign workers living in Malaysia – largely Indonesians, Filipinos, Bangladeshis, Nepalese and Vietnamese.

The service also will provide these workers with a more immediate option of transferring money to their family and friends. 
“International immigrants living in Malaysia send money home to loved ones around the world anywhere from five to 15 times a year,” said Matt Dill, Senior Vice President and Head, Western Union Digital Ventures. “This segment of the population also has high mobile phone penetration rates – more than 90% for all migrant groups. By combining these two trends – enabling migrants to send money across borders to their loved ones with just the touch of a button – we can bring the power of Western Union directly to Maxis subscribers.”

Western Union has live cross-border Mobile Money Transfer pilots around the globe. Consumers can currently visit select Western Union Agent locations in the United States, the United Kingdom, the United Arab Emirates, Singapore and Hong Kong to send funds directly to Globe Telecom and Smart Communications subscribers in the Philippines. In addition, consumers can also visit select Western Union Agent locations in the U.K. to send funds to Safaricom M-PESA subscribers in Kenya. 
Maxis was the first mobile operator in Malaysia to introduce mobile money and mobile international remittance via Max

is M-money, a mobile financial service platform. M-money allows Maxis customers to send money within Malaysia to other Maxis customers, top-up airtime and purchase items such as cinema tickets.

Source: BusinessWire

Source http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20091005005410&newsLang=en


Comments are closed.