M2 Global (BSX:M2G) announced today that it has successfully brought back online its recently acquired iKobo Money Transfer service.
iKobo's worldwide service is card-based and uses a Visa Prepaid Card and enables members to send and receive funds at 1.2 million ATMs around the globe and can be used wherever Visa debit cards are accepted. The iKobo brand has long been one of the top remittance services in the world and is now fully operational in time for the holiday season, historically a busy time for the remittance business.
In the coming weeks M2 will be adding to the iKobo service its patented mobile SMS account management and fraud prevention technology, making it the most secure debit card available anywhere, which will be a big advantage in attracting new customers. The iKobo brand and its worldwide remittance business add to M2's range of financial products and will help solidify its strategy to be the leader in financial services transaction and payment products. M2's business combines award-winning enterprise software, business and consumer pre-paid debit cards, and the industry's most advanced fraud prevention capability.
"Our goal is to provide iKobo customers with the most convenient and secure way to send and receive funds anywhere in the world," said M2 Global's CEO, Mike Muscato. "iKobo has been widely known for great service and support, and when we add our mobile SMS technology, iKobo members as well as new customers will feel comfortable knowing their funds are safe." The iKobo brand is managed by one of M2's operating companies, M2 Financial.