Ingenico Ventures, a division of Ingenico, has previously made a USD 3 million investment in the company, and completed the acquisition by recently purchasing a 90 percent stake.
In 2009, The Paypers sat down with Transfer To CEO Eric Barbier. Discussing the effectiveness of airtime remittances as an alternative to mobile money transfers, Barbier has declared:
“Around the world more than 200 million people live outside their home country remitting over USD 300 billion every year. As the current remittance channels are inefficient for sending money amount below USD 10, these migrants lack appropriate solutions to send small gift back home. By reloading the prepaid mobile phone of their relatives, TransferTo offers expatriate workers an innovative service enabling an easy and cost effective cross border sending of value from USD 1 to USD 10.”
Founded in 2006, Transfer To activates globally, providing workers located in countries such as Brazil, China, Egypt, India, Mexico and Poland with the ability to send the equivalent of money, in the form of airtime minutes, to their relatives.
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