Reportedly, the UAE remittance market has a volume of about $10bn a year. The workforce of the country includes numerous migrants from India, Pakistan and Bangladesh. Hence, VoiceCash is particularly focusing on expatriates from these countries.
Michael Kramer, CEO of the VoiceCash Group and Corne Melissen, CEO of Newboard Capital expressed their belief that the new cooperation between the companies will bring serious competition to the UAE remittance market.
VoiceCash is an associate company of VoiceTrust, a global player in the field of authentication through biometric voice verification. It is also the main technology partner for the VoiceCash enterprises.
VoiceCash enables cross-border mobile payment services and provides access to 28 million locations, where MasterCard is accepted. Cash withdrawals are possible at 1.5 million ATMs worldwide. The VoiceCash Prepaid MasterCard twin-card can be managed online via internet, via mobile phone SMS commands or using VoiceTrust’s certified voice verification system.
In autumn 2008 VoiceCash had received a full European SEPA banking license establishing VoiceCash Bank in Malta. As money transfers across international borders are one of the biggest growth markets, VoiceCash Bank is an important step forward towards providing world-wide access to mobile banking.
