Lycamoney and Bics open remittance corridors between the UK, Morocco and the Philippines

Lycamoney users will be able to send money instantly and cost effectively to their friends and family anywhere in Morocco and the Philippines, through the HomeSend remittance hub.

HomeSend is a strategic business partnership between BICS and eServGlobal, allowing the real-time transfer of any type of funds, and from various fund sources, such as eWallets, bank accounts, scheme cards and cash.

Milind Kangle, CEO of the Lycamobile Group commented "Mobile Money Transfer" is the next exciting step towards realising our strategy to service the communication, travel and financial services needs of ethnic and immigrant communities around the world. Our customers tell us that they need a simple and secure way to send money home and the HomeSend service is just what our customers are looking for. We chose to partner with BICS for this product following extensive market evaluation and research. All of our Lycamoney card holders will have access to the "Lyca Mobile Money Transfer" service which will initially be accessed within the secure banking portal we currently provide. We believe there will be a rapid take up of the service as our customers benefit from this quick and inexpensive way to send money home to their family in Morocco and the Philippines.

Frédéric Schepens, SVP Mobile Financial Services at BICS said "We are delighted to work together with Lycamoney to boost international money transfers in the UK. This partnership makes it in a first phase possible for the Lycamoney Prepaid Card users to send money easily and rapidly to Morocco and the Philippines. Ultimately, it will provide Lycamoney access to all the HomeSend hub members, and as such reinforce our goal to enable a truly global mobile remittance ecosystem."