New mobile money transfer platform unveiled

Global Reach Portal Services (GRPS), a joint venture by Al Fardan Exchange, ITSC-Egypt, and SygmaFone announces the introduction of its new mobile money transfer platform under the brand name ‘REACH’. It offers an open network to Telecom Operators, Banks, Financial Institutions and other Retail outlets to provide Mobile Money Transfer and Payment Services. The platform will provide customers with a new, reliable channel to transfer money at relatively affordable rates effortlessly within minutes. The platform has been developed in association with SygmaFone and ITSC, specialised in enterprise software and services. According to Osama Hamza Al Rahma, General Manager, Al Fardan Exchange, the remittances market has been witnessing steady growth; the evolution of Mobile Money provides a reliable, cost-effective channel to transfer money, especially to the strong expatriate community from the emerging markets such as India, Philippines etc. in the GCC region. He added that “Al Fardan’s experience in the money transfers business, local network of outlets, and global correspondents’ network will guarantee a head start for REACH. From gulftoday