17 July 2018
Visit www.avoka.com

Migrant-focussed telecoms group Lebara enters money transfer arena

24 October 2016  |  2705 views  |  0 Source: Lebara

Lebara, the telecommunication group well known for making migrants’ lives easier with cheap international phone calls, just launched a new money transfer service. It’s called Lebara Money and will compete with other players like TransferGo, Azimo, TransferWise or Western Union.

For now, the service is only available for money transfers from the United Kingdom and is limited to UK debit or prepaid card holders. You can send money to 39 countries in 12 currencies. Lebara Money launched with an interesting feature that let users lock Lebara Money’s exchange rate of the day for a transfer upto 30 days later. This is a good addition to a traditionnal money transfer service and can be particularly interesting if you are afraid of exchange rate fluctuations.

Ratheesan Yoganathan, founder and chairman of the Lebara Group, as reported by Techcrunch, says: “Migrants have distinct financial needs that are often poorly served currently, if even recognised by the mainstream industry.”

It’s interesting to see brands that have a long history of serving migrants and a huge network of retail locations entering the money transfer industry. Lebara is following the steps of its competitor Lycamobile that had launched Lycaremit in early 2016 with the same objectives. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit info.nice.comVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
10431 views comments | 19 tweets | 30 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
9412 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8772 views comments | 6 tweets | 14 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
7764 views comments | 1 tweets | 5 linkedin
Banks stand to reap $512 billion revenue boost from 'intelligent automation'Banks stand to reap $512 billion revenue b...
7559 views comments | 21 tweets | 30 linkedin

Featured job

Find your next job