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Luup and MoneyGram team on mobile remittance service

25 August 2009  |  2884 views  |  0 Source: Luup

Luup International Ltd have today announced that they are working with MoneyGram International Inc. to create a mobile remittance service potentially utilising MoneyGram's worldwide agent network of over 180,000 agent locations and Luup's mobile payments solutions.

The planned service will be able to offer Agents and their customers a fast, secure and reliable means of sending money around the world regardless of the mobile phone or network.

Luup enables banks, corporate customers and institutions to offer mobile payment processing, mobile payment interfaces and virtual mobile phone accounts. Luup will use its existing technology and expertise to develop this bespoke service for MoneyGram and will now start planning the roll-out of the service.

Luup and MoneyGram expect to announce further details on the initiative later in the year.

Thomas Bostrøm Jørgensen, Chief Executive of Luup, said: "With over 3.5 billion mobile phones in use around the world mobile technology is undoubtedly playing a compelling role in the future of remittance. By tapping into mobile technology, banks and financial institutions can offer customers new channels and services, whilst generating new revenue streams. MoneyGram is a leader in the remittance market and developing a mobile remittance service in conjunction with Luup will put the company at the cutting edge of the mobile remittance market as it develops."

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