Posted in | 10 August, 2008

TransferTo and Ingenico join forces to make airtime remittance easier for migrants

TransferTo teams up with Ingenico to open a new distribution channel for international airtime transfer. From now on, thanks to a new application exclusively available on Ingenico i8550 wireless payment terminals, any retailer in the world can propose airtime remittance to its customers.
 
TransferTo, a leading global mobile airtime network, and Ingenico, the world leader in transaction and secure payment solutions, announces their partnership. They created an application on i8550 terminals specially designed for migrants to ease the remittance of airtime to their friends & relatives prepaid mobile phone account back in their country of origin.
200 million people around the world are working and living in a country other than their home one. These migrants are remitting back home over $300 billion every year. Out of the 3.1 billion mobile subscribers worldwide, 2 billion are prepaid. They perform 49 billion top-ups a year.
With its global mobile airtime network, TransferTo brings an innovative solution truly relevant to foreign communities. It complements their existing regular remittance and opens a new market for small value transfers. In particular, it solves the problem of sending small amounts, on special occasions (birthdays, festival…) and sending to friends and relatives that are not the usual recipient of their remittance.
“In emerging countries, airtime is a key element of people’s everyday life as they can send it to each other,” said Eric Barbier, Managing Director, TransferTo. “They also rely on the support of their family members abroad for their airtime needs. For instance, an Ivorian working in France buys airtime and sends it to his young sister in Ivory Coast. She can then exchange it for cash at its local retailer with a small fee. TransferTo innovative solution totally suits these usage patterns, especially for small value transfers.”
“Thanks to an application available on all Ingenico i8550 wireless payment terminal, migrants can now send small amounts of value in a fast, secure and reliable way” asserted Pierre Girardon, VP Global Sales. “Enabling Ingenico terminal to offer international airtime is a significant source of new revenue for all local retailers”.
TransferTo will be present at Gitex Technology Week in Dubai, UAE from 19-23 October and AfricaCom in Cape Town, South Africa from 18-19 November. Ingenico will attend Cartes 2008 in Paris, France from 04-06 November and Cardex Middle East in Dubai, UAE from 18-19 May 2009.

 

About Ingenico
Throughout the world, businesses rely on Ingenico for secure and expedient electronic transaction acceptance. Ingenico products leverage proven technology, established standards and unparalleled ergonomics to provide optimal reliability, versatility and usability. This comprehensive range of products is complemented by a global array of services and partnerships, enabling businesses in a number of vertical sectors to accept transactions anywhere their business takes them.

 

For more information about Ingenico, please visit: www.ingenico.com

 

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