MasterCard Joins P2P Mobile Money JV HomeSend

245px-Mastercard_Worldwide_Logo.svgMastercard has taken a stake in HomeSend, a platform that links users of telcos, mobile money companies and banks to enable them to make peer-to-peer mobile money transfers.

The venture was setup in 2009 by eServGlobal, a mobile financial services company, and BICS, owned by belgacom. HomeSend is already live in 50 countries, serving the 1.2bn people who make cross-border P2P money transfers through mobile operators and money transfer companies.

Mastercard will link this network to the 24,000 financial institutions it has on its network to make these types of payments available worldwide.