TimesofMoney Announces Launch of ‘Movit’

‘Movit’ – Comprehensive Mobile Money Solution fuels Global mPayments Revolution

Mumbai, March 30, 2015: TimesofMoney, the global digital payments specialist, recently launched its suite of comprehensive Mobile Money solutions, Movit, aimed at catering to the burgeoning mobile payments market.

The new-age Movit platform caters to various verticals and businesses including banks, telecom companies, government utilities and retail stores by creating a host of services that aid financial inclusion. These include mobile commerce, agency banking, peer-to-peer remittances etc. It is device agnostic and can be customized to both smart phones as well as feature phones. 

The company’s expertise on global compliance and AML (anti-money laundering) best practices makes the job easier for any business aspiring to succeed using mobile payments. Simply put, Movit offers security and safety in transactions with ample convenience and freedom to transact anywhere, anytime. With few players in the industry who offer a bundled service for mobile money utility, Movit makes for a compelling proposition.

Talking about Movit, Avijit Nanda, Chief Executive Officer, TimesofMoney says, “TimesofMoney has several success stories to its credit. We have engaged with international clients for Movit and in fact are in the process of deploying it in Africa currently. Since Movit’s primary delivery channel is the mobile phone, it gives a huge thrust to the financial inclusion agenda of Governments in emerging economies of India, Asia & Africa where there is an ever-increasing mobile penetration.”

“In India, the potential of the ubiquitous mobile phone is yet to be harnessed. Movit was born out of our global expertise in powering digital payments and our desire to leverage the platform. Many emerging economies and businesses are poised for growth in mobile money solutions and we have just the right proposition to drive this growth”, he added.

Recent studies indicate a surging global market for mobile-based payments that is set to grow exponentially in the next couple of years. There is a pressing need for businesses to make sure they have the ability to service this consumer need. Simultaneously, both the regulators as well as the other aspects of ecosystem including service providers, beneficiaries and users are converging. To cater to this, Movit offers a completely customizable platform to equip businesses to facilitate mobile payments in different forms.

For more on Movit, please visit: http://www.timesofmoney.com/TOM/movit.html

Tempo Money Transfer ties up with Seylan Bank for remittance to Sri Lanka

Tempo Money Transfer has commenced remittance to Sri Lanka through a strategic business partnership with Seylan Bank PLC, Sri Lanka.

Seylan Bank, PLC one of the leading private banks  in Sri Lanka and the Paris-based, Tempo Money Transfer service company  have successfully completed integrations of their remittance platforms.

This would ensure remitters requiring service in the Europe to Sri Lanka corridor are provided with a  EU-standard money transfer services.

Seylan Bank, network of 159 strategically located branches in 25 regional districts and 9 provinces, provides easy access to fund recipients in Sri Lanka. 

Migrant Sri Lankans in Europe, especially in France & Germany could remit funds from any Tempo location, to their “loved Ones” in Sri Lanka for pick up at any Seylan Bank Branch or to the credit of any Seylan Bank account or credit any other Bank account. Account holders of Seylan Bank could also draw cash 24 hours a day through any of the 2,000 Visa accredited ATM’s located around Sri Lanka or purchase goods & services through any Visa accredited merchants in Sri Lanka. 

Extensive location coverage, high quality services, as well as a broad spectrum of options, coupled with the latest IT systems, makes the joint venture an important financial initiative throughout the country, given how fast the demand for quality services which is growing in the remittances field.

"This business partnership with Tempo is very vital to Seylan Bank. We look forward to serving the large segment of migrant Sri Lankans living and working in European countries, particularly in Germany and France," said Mr Nain Marikar, Head of Remittance for Seylan Bank.

“We are making great and diligent efforts in extending our network to the Asian and Oceania region,” said Mr. Jeffrey Phaneuf, the president for Tempo Money Transfer.

He reported that currently Tempo’s partnership arrangements provides service through over 4,300 locations in India, nearly 2,000 locations in Pakistan, and close to 6,000 locations in the Philippines.

In Europe, where it has been granted a pan-European money transfer license, Tempo Money Transfer operates branches in France and Germany. Its services are available in outlets of 60 agents.

Tempo money transfers are presently available in more than 100 countries.

Tempo Money Transfer enters Romania and Moldova. Collaboration with Smith&Smith started

Tempo Money Transfer and Bucharest-based remittance provider Smith&Smith have successfully finalised an integration project. Its completion has enabled clients to send money from Tempo Money Transfer service locations to Romania and Republic of Moldova. Clients are also able to make outbound money transfers from Smith&Smith locations and receive the funds in one of Tempo's current service locations. For inbound transactions, cash-to-account and home delivery options are available. Once online transactions are completed, clients will receive sms-notification.

Both Tempo and Smith&Smith believe the amalgamation to be a momentous event for Europe's money transfer market.

One of the leading operators in Romania, Smith&Smith operates in over 40 provinces. The first stage of collaboration will see more than 500 new locations in the state and over 90 locations in the neighbouring Republic of Moldova.

Smith&Smith and Tempo Money Transfer offer home delivery payment service “ACASA” for individuals. The service provides the payment of the amount ordered by the sender at the beneficiary address, in Romania, indicated by the sender. It covers 3100 cities, 95% of the Romanian population, in addition to Tempo's augmented presence.

“ACASA” services also offer increased comforts for the beneficiaries who will not have to travel to collect payments, amongst these beneficiaries will be the elderly. 

Tempo Money Transfer operates two fully licensed branches in Paris and Frankfurt, as well as working with 60 agents across Europe, providing services in more than 100 countries.

Smith&Smith believe the joint venture will make for an increase in client portfolio. “The target audience are Romanians and Moldovans, many of whom work temporarily in France, sending money to their families, as well as individuals who do business in Romania. The project may also birth great potential to explore Italy, Spain and UK,” said Mrs. Stela Dimofte-STAMBOALA Smith&Smith administrator.

President for Tempo Money Transfer Mr. Jeffrey Phaneuf announced, 2015 is going to be a year of very ambitious international projects for the company.

“Romania and Moldova are very promising money transfer corridors, and as an ambitious and rapidly developing market player, Tempo Money Transfer are delighted with the collaborative success of our partnership with Smith&Smith. The joint venture will give eager incitement to the international development of these two market players,” he said.