MasterCard, eTranzact ink agreement for sending remittances in Nigeria

Under the agreement, citizens will be able to receive international remittances into their eTranzact mobile money wallets or select bank accounts via the international transfer hub, HomeSend. A joint venture between MasterCard, eServGlobal and BICS, HomeSend bridges the gap between various entities globally such as financial institutions, non-financial entities and mobile network operators, enabling Nigerians living and working abroad to send money from mobile money accounts, payment cards, bank accounts or cash outlets back home.

Upon receipt of funds into their eTranzact mobile wallets, Nigerians can use PocketMoni, eTranzact’s mobile money platform, to pay bills, top-up airtime, pay select merchants, cash out at agents or at participating bank ATMs, and send money to any bank account, PocketMoni user, eTrazact card or mobile phone user. eTranzact will also enable consumers to receive remittances directly into their bank accounts.