Under the new brand, Lebara has rolled out its first product Lebara Prepaid MasterCard, in conjunction with MasterCard and Newcastle Building Society.
The prepaid card targeted payment destination countries include Nigeria, Ghana, the Philippines, China and eastern Europe.
According to the Lebara, the prepaid card will provide customers a two-card facility allowing the sender and receiver control and security, money loading, card-to-card sending and withdrawals.
The money will be loaded onto the UK based card and then moved to the beneficiary’s pre-paid debit card so they can use the money instantly by just swiping at the vendor’s point of sale or getting cash from any ATM displaying the MasterCard acceptance mark.
The two linked cards can be purchased at £14.90 to purchase with transparent fees and charges.
The prepaid card also allows customers that have no direct access to a bank account in the UK to take advantage of the service through direct payment and cash loading at over 30,000 Paypoints and post office branches across the country.
Lebara CEO Ratheesan Yoganathan said introducing financial services was the natural next step in Lebara’s commitment to provide them with a complete communications solution.
UK is one of the top 10 remittance-originating countries worldwide, with approximately £2.4bn recorded outward remittances annually from the UK to the developing world.
