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27 June 2011
The Chinese mobile money company SmartPay and the Belgium telco BICS have entered an agreement to offer mobile remittances from Europe, Asia-Pacific and the Middle East to China.
SmartPay will utilise the HomeSend remittance hub,
which was formed through a strategic partnership between BICS
and the mobile money solutions provider eServGlobal. It allows
for the real-time transfer of various types of funds, including
airtime or money, to fund sources, such as bank accounts,
credit cards, cash and eWallets.
SmartPays CEO and president Edward Wu claims the
international remittance market amounts to $500 billion per
year, and that the company is well positioned to assume
more responsibilities and lead the development, market
cultivation and promotion of the mobile payment business in
Frédéric Schepens, SVP of mobile
financial services at BICS added: Its great to have
SmartPay on our global HomeSend hub. With this agreement we are
opening an important market in Asia to our
The move highlights the recent flurry of
telecoms-related activity between China and overseas companies.
In June, Capacity reported on the growth of
terrestrial cables between China and Europe following a deal
between Rostelecom and China Telecom to upgrade the Russian
carriers Transit Europe-Asia (TEA) system (click
In March, Capacity also ran a full-length
cover story highlighting the radical changes going on in the
Chinese carrier market (click
here). The feature coincided with the lead-up to the first
Capacity China conference, which was held in Beijing on 19-20
April and successfully brought together almost 300 delegates
from the Chinese and international carrier communities (click