HomeSend agreement with Lycamoney enables mobile remittances between the UK, Morocco and the Philippines

Lycamoney is the financial services division of Lycamobile UK and affiliate of the multinational operator group, Lycatel.

Lycatel is one of the leading MVNO's in Europe with over 6 million customers and a particular focus on providing services to the pre-paid international immigrant and expatriate community, the most likely to use mobile money and international remittance services. UK migrant workers sent home over $1.2Bn in 2009, according to the World Bank.

Lycamoney provides subscribers with a domestic mobile money solution, extending this scheme to offer international remittance is a natural progression. With a base of users in a developed world market, Lycamoney is expected to bring sending power to the HomeSend hub.

HomeSend continues to set the standard for international interoperability in mobile money transfer by creating a seamless connection between a variety of mobile money systems and financial institutions around the world. The HomeSend mobile remittance hub service is offered by BICS and based on eServGlobal's technology. BICS is a leading global provider of Voice, Messaging, Roaming, Connectivity and Mobile Financial Services.

HomeSend, which benefits from a first mover advantage, is the only mobile-centric international remittance hub endorsed by the GSMA, with remittance corridors operating between countries including the UK, Qatar, the Philippines, Pakistan, Belgium, Ghana and Morocco.

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