Xendpay Ramps Up Money Remittance Competition

July 1, 2014         By: Monique Zamir

The aptly named Xendpay, a UK-based, global financial services company, has expanded their services from offering bank transfers to money transfers directly to mobile wallets as well.

Customers in certain countries now have the option of having funds delivered directly to the recipient’s mobile wallet. The mobile wallet service is presently offered in Ghana, Kenya, Nepal, Nigeria and the Philippines, with Xendpay anticipating announcements on further partnerships in the coming weeks.

Xendpay offers a low cost service with a simple user interface to make global money transfers more simple, affordable and secure.

Rajesh Agrawal, Founder and CEO at Xendpay, said, “ We are proud to offer our customers this new mobile wallet service. We believe that innovative payment solutions are key to making money transfers faster and more secure, and in turn, give our clients as much choice as possible in how they remit money overseas.”

Mobile banking is experiencing an especially large boom in countries with developing banking infrastructures, so mobile wallet transfer services play a key role in further streamlining and securing national and international financial transactions.

Bhavin Vaghela, Xendpay’s Business Development Manager, commented, “Although mobile wallets will benefit the global market, this payment method will certainly have more impact in developing countries, mainly due to the number of receivers who either do not have ability to open bank accounts or are in locations where banks are not easily accessible.”

This development of mobile wallet services is integral in enabling digitized money transfer services to be more widely and more globally available as a more secure, easier means of transferring funds, and, Bhavin Vaghela said, “in line with new innovative technologies being introduced into the international payments space.”