SOURCE: EastNets

EastNets

September 04, 2012 08:00 ET

en.MoRes Mobile Remittance Platform Expands Coverage to Nepal

More Than 200,000 Nepalese in Qatar to Benefit From Secure, Affordable Mobile Financial Service

NEW YORK, NY and DUBAI, UNITED ARAB EMIRATES--(Marketwire - Sep 4, 2012) - EastNets Remittance, a leading global provider of Mobile Remittance Solutions, announced it has expanded its service coverage to include Nepal through its partnership with Qtel, the leading international communications company headquartered in Qatar.

With Nepal now part of the en.MoRes network coverage, customers can use the Qtel Mobile Money service to transfer money to Nepal, benefitting more than 200,000 Nepalese who reside throughout Qatar. The easy, safe and convenient money transfer service offers a 24/7 facility to transfer funds instantly to Himalayan Bank, which provides instant connection to 2400 payment network and a/c credit to 32 major commercial banks in Nepal.

Himalayan Bank is the first and only bank in Nepal to be certified for SWIFTRemit. Himalayan Bank has pioneered to render remittance service in Nepal since its establishment in 1993. The bank has its proprietary remittance service branded as HimalRemit. Payments sent through en.MoRes network are paid through HimalRemit system in Nepal. The bank has the largest remittance payment network in Nepal covering almost all cities and suburbs by approximately 2400 payment locations.

"It is our mission to provide convenient, accessible, affordable and secure mobile financial services that will benefit the large expatriate population in the GCC and around the world. en.MoRes is therefore pleased to announce the launch of the new mobile remittance service to Nepal in collaboration with Qtel. We are fully committed to continue to expand the scope of our services to allow more people to enjoy the true benefits and advantages of the en.MoRes technology platform," said Hazem Mulhim, CEO, EastNets Group.

en.MoRes interconnects global Mobile Network Operators (MNOs) to a financial community of more than 10,000 banks via the SWIFT worldwide financial messaging network. It obtained the SWIFTRemit conformance label in 2011; the SWIFTRemit is designed to support financial institutions' needs for low-value, cross-border person-to-person payments -- otherwise known as remittances. en.MoRes is also licensed as a recognized Small Payment Institution by the Financial Services Authority, an independent body that regulates the financial services industry in the UK.

en.MoRes will also launch a new online remittance service as part of its mission to provide a multi-channel platform for supporting international person-to-person (P2P) remittance services based on the innovative en.MoRes technological solution. The ultimate goal is to cater to the estimated 200 million migrant workers around the globe that send money to their homeland on a regular basis.

About EastNets
EastNets, a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries, provides Compliance Solutions including anti-money laundering and anti-fraud; Resilient SWIFT Solutions for SWIFT FIN/XML reporting, duplicate detection management, disaster recovery, and outsourced SWIFT connectivity with its SWIFT Service Bureau; and Mobile Remittances Solutions enabling secure, compliant mobile remittances, For more information, visit www.eastnets.com.

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