Meezan Bank, being amongst Pakistan’s largest banks to receive inward remittances, has recently partnered with HomeSend, an international Money Transfer Operator (MTO).
HomeSend is a joint venture between MasterCard, eServGlobal and BICS, which enables cross-border and cross-network value transfers globally through a single connection.
Under this agreement, the Bank’s Home Remittance service - ‘Meezan Easy Remit’ will start processing remittances sent through HomeSend by millions of non-resident Pakistanis to the beneficiaries in Pakistan. Meezan Easy Remit, provides an easy, fast, and reliable way for customers to send money to their relatives in Pakistan.
Meezan’s state-of-the-art Home Remittance service is empowered by Moneta, a remittance processing solution by TPS. Moneta is a scalable, high-volume, and proven remittance processing system, which provides end-to-end processing of home remittances to banks and financial institutions. It seamlessly connects exchange houses, money transfer operators (MTOs) and the corresponding banks.
Overseas Pakistanis will benefit from the extensive reach of HomeSend’s network and its multiple money transfer channels. Beneficiaries in Pakistan can enjoy the convenience of immediately collecting money sent through HomeSend from Meezan Bank’s wide network of 551 branches in more than 140 cities across the country.
“Our strength are the banks that successfully run our remittance processing solution. We enable integration with the money transfer operators, automate the processes, and ensure that our clients have the latest technology to deliver seamless experience to their customers,” said Mr. Shahzad Shahid, CEO, TPS.
Mr. Arshad Majeed, SEVP and Group Head Payment Services - Meezan Bank said, "We are delighted to be associated with TPS for our remittance service. Their solution has helped enhance our service capability to offer convenience to our customers.”