Tempo Money Transfer and Samsara Money Transfer have launched option of account crediting in Nepal

The France and Germany-based international remittances service provider, Tempo Money Transfer, and its partner in Nepal, Samsara Money Transfer, have launched the option of account crediting in Nepal. This is the next stage of collaboration between the two companies that started at the beginning of 2015.

Now clients are able to credit money sent from Tempo’s locations in Europe to recipients’ accounts at Samsara's partner banks in Nepal. Up until now, only the cash pick-up option was available.

Over 1,800 agent locations - finance companies, retailers, corporates and travel agents - operate on the b2b model using Samsara’s system. The network covers all of Nepal's provinces, including small towns and settlements.

The number of Tempo locations where clients can send money from Germany and France is currently over 170.

The president of Tempo France, Mr Jeffrey Phaneuf, said, "The ties between Nepal and the EU are growing ever more. The further development of this project, namely the introduction of account–crediting, will provide new options to send money to Nepal. The client market is very broad, including workers, migrants, students, businessmen, all staying and working in Europe. They expect high quality services and affordable rates. That is our main angle and focus, working with our partners at Samsara.”

The director of marketing and business development for Samsara Money Transfer, Mr Suraj Chetri, said that the broadening of the service spectrum gives yet more impetus to further grow the client portfolio and reach new financial and operational heights.

“We are continuously improving the quality of the services we provide to our clients and are always looking for new options to increase the level of convenience and effectiveness for our clients. Collaboration with Tempo presents a way to step up our activities in a very important segment such as Europe. That is why we are very happy to expand our work with them in implementing new products,” he said.

Tempo Money Transfer has integrated into the Stellar Blockchain

Tempo Money Transfer, has successfully completed integration with the financial platform, Stellar. 

Clients are able to send global remittances from Europe through the Stellar e-wallet, online or by visiting Tempo locations. At launch Tempo is integrated via stellar with Coins.ph which allows clients to send funds to anyone in the Philippines by using their name and mobile phone number. The recipient receives a notification on their mobile phone and a Coins.ph account is created for the recipient automatically. The client can then receive the funds out of their Coins.ph wallet, initiate a bank transfer, request home delivery as well as cash pickup throughout the Phillippines. 

In his comments to the launch of the joint project, the CTO for Stellar, Mr Jed McCaleb said that these partnerships bring the company closer to one of its goals: substantially lowering global remittance costs by improving cross-border payments, making them more efficient.

““This is the start of achieving our mission of enabling a worldwide financial network that anyone can use, ” he said.

Tempo's CTO, in turn, noted “the blockchain technology that backs networks such as Stellar will revolutionize international payments. In particular Stellar solves many of Bitcoin's problems such as Exchanges getting hacked, higher transaction throughput,  anti-terrorist protocol and provides an average of  3 second settlement vs Bitcoins 10 minutes. It also provides a standard api that like email could transform the world,” said Mr Anthony Barker.

“This will allow our clients to send funds faster, more reliably and for less money.”

Recently, the company has actively been working on the introduction of new products and transfer channels, particularly implementing its option to send money online from its website. 

This project will feature a significant geographical spread and wide range of opportunities for customers.  The Paris-headquartered company has been very active in the Philippines in particular.

Tempo Money Transfer’s services are now available in nearly 12,000 locations across the country, the total number of locations in the Asian region having increased to over 22,000.

According to the latest statement, the number of cash agent locations soared to more than 218 in Germany and France.

The company's main focus of activity is sending money from Europe to the rest of the world. The total number of locations where its services are available, increased to reach 195,000 while the number of countries has reached almost 120.