Xpress Money Partners With Lycamoney in the UK

LONDON, July 23, 2014 /PRNewswire/ --

~ Will offer Remittance Services through Lycamoney's network in the region ~ 

Xpress Money, one of the fastest growing money transfer companies in the world, has today announced its collaboration with Lycamoney - the money transfer arm of telecom giant Lycamobile, in the UK.

This tie-up will bolster Xpress Money's presence in UK, where customers will be able to send money home using Lycamoney's locations. In a phased rollout, the service will be first launched in Lycamoney's locations in East Ham followed by Wembley, Tooting, Birmingham and Milton Keynes. Later expansion will see Xpress Money's services being made available across the 10,000 hotspots of Lycamobile in the country.

As a launch offering, customers remitting money from a Lycamoney location will be eligible to receive free £5 Lycamobile credit, with every Xpress Money transaction.

Mr. Nirav Parekh - Regional Vice President, Business Development Europe - Xpress Money, said: "At Xpress Money, we are committed to providing the best value and convenience to our customers, this alliance with Lycamoney is a step in the same direction. UK is a very important player in the global remittance scenario, with more than 12% of its population consisting of expatriates from various countries. This tie-up will help these expatriates, in sending and receiving money with greater ease in addition to fortifying Xpress Money's network in the UK further."

Subaskaran Allirajah, Chairman, Lycamobile, added: "The nature of our business is inherently global as we connect our customers with their families and friends abroad. As we continue to grow our business, it is vital to offer a full range of services that cater to the needs of our audience. Our new found partnership with Xpress Money will ensure our customers are able to transfer money securely to their loved ones across the globe."

Lycamobile Group has a number of brands under its corporate umbrella including its flagship mobile brand Lycamobile, which currently operates in 17 markets, as well as Lycatalk, Lycamoney and Lycafly. Its brands are used by over ten million customers worldwide, generating a combined 23 billion minutes of voice calls per annum. Lycamobile has over 10,000 hotspots in the UK and the company plans to transfer these to Lycamoney hotspots in the near future.

About Xpress Money: 

Xpress Money is a global money transfer brand with a thriving presence in more than 150 countries in 5 continents across 170,000 agent locations across the world and has come to be known as the most dependable international money transfer brand. Xpress Money provides its customers a simple, fast & safe way to transfer money anywhere in the world through innovative technology, superior customer service and its extensive worldwide network. For more information, visit http://www.xpressmoney.com

About Lycamoney: 

Lycamoney Limited (http://www.lycamoney.com) is the financial services division of Lycamobile and was first established in 2009.  The first product launched in early 2011 was the Lycamoney Prepaid MasterCard®, the Lycamoney Card is issued by Transact Network limited under Licence from MasterCard International.  MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.