VoiceCash starts offering banking services
(17 December 2009 – Europe) VoiceCash, the international mobile money transfer company, has been granted a European banking licence and has now started offering banking services.
The VoiceCash service allows users to transfer funds in real-time via their handsets using SMS and voice biometric callback functionality.
The group currently offers its white-label system to mobile operators, banks and others; and is now looking to expand its capabilities and network by targeting the multi-billion dollar remittance market, through VoiceCash Bank.
The VoiceCash Bank service is located in Malta and has a range of new services planned including a salary card, aimed at migrant workers dependant on pre-paid cards.
Aimed at the Middle East, as many of the workers do not have bank accounts in their host countries, their wages have to be paid in cash or by some form of pre-paid card. The firm says its service will make it easier and cheaper to transfer money home with their mobile phones.
The new bank is headed by Josef Leckel, formerly director of operations for Western Union Financial Services in Central and Eastern Europe, who said that VoiceCash Bank gives the group the opportunity to be a single source of all financial services for mobile operators and its customers.
Michael Krame, chief executive officer, VoiceCash, said that there are millions of people that have a mobile phone but don’t have a bank account. VoiceCash Bank is connecting individuals and domestic mobile payment initiatives via mobile financial services.
Mr Krame also added that VoiceCash Bank is the first of its kind, a pure mobile transaction bank.
The group currently offers its white-label system to mobile operators, banks and others; and is now looking to expand its capabilities and network by targeting the multi-billion dollar remittance market, through VoiceCash Bank.
The VoiceCash Bank service is located in Malta and has a range of new services planned including a salary card, aimed at migrant workers dependant on pre-paid cards.
Aimed at the Middle East, as many of the workers do not have bank accounts in their host countries, their wages have to be paid in cash or by some form of pre-paid card. The firm says its service will make it easier and cheaper to transfer money home with their mobile phones.
The new bank is headed by Josef Leckel, formerly director of operations for Western Union Financial Services in Central and Eastern Europe, who said that VoiceCash Bank gives the group the opportunity to be a single source of all financial services for mobile operators and its customers.
Michael Krame, chief executive officer, VoiceCash, said that there are millions of people that have a mobile phone but don’t have a bank account. VoiceCash Bank is connecting individuals and domestic mobile payment initiatives via mobile financial services.
Mr Krame also added that VoiceCash Bank is the first of its kind, a pure mobile transaction bank.
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