iKobo Money Transfer, a product of M2 Global, has introduced a new iKobo mass payments service for businesses. The service offers US companies to globally distribute funds, including commissions and payouts, to multiple affiliates on a recurring basis.
iKobo has said that the mass payments program is designed specifically for small and medium sized businesses. It allows them to transfer money internationally to pay commissions, payouts, incentives, rewards and other payments to employees, contractors and other affiliates, who receive their funds on a reloadable iKobo Visa prepaid debit card. The card is reported to use M2’s patented security and fraud mitigation technology.
Bridget Conrad, director of professional services at Enterprise Wizard, said: “Historically, paying our international contractors has been time consuming and costly. iKobo Mass Payments has definitely helped us streamline and manage these overseas payments and our contractors love being able to view their accounts online.”
Michael Muscato, CEO of M2 Global, commented: Since 2001, iKobo has streamlined international person-to-person money transfers, and now the iKobo for Business’ system does the same for business-to-person transfers. Businesses throughout the US now have an easy to use, secure and tested solution for all of their remittance needs.”
Atlanta-based iKobo operates card-based remittance service using Visa prepaid cards across the globe.
Texas-based M2 Global is an online transaction processing technology company. Through its operating subsidiaries M2 Financial, M2 Systems and M2 International, the company develops, acquires, operates and licenses software enabling platform interoperability, as well as the initiation and settlement of electronic payments.
