Dialog taps inward remittances via its mobile money service eZCash
View(s):With Hutch and Etisalat joining in, Dialog has extended its mobile money service eZCash in Sri Lanka by tapping the foreign remittances coming into the country which annually is at US$ 7.2 billion.
At the launch of this brand new service at the Dialog Head Office in Colombo on Thursday, Dialog Axiata PLC Group CEO Dr. Hans Wijayasuriya told the Business Times, that, “Bank transfers typically make financial sense to the consumer for larger values. If you send a small amount of money from abroad via banks it will be very expensive. There is a minimum commission involved in the banking channels for large cash flow.” eZCash remittance facilitates small transactions at a linear commission rate.
For small transactions it will be cheaper to use mobile money service rather sending them through banks, he added.
He also noted that the service will be the same through the partner networks Hutch and Etisalat. Though eZCash was founded by Dialog, it’s operated today with identical services for all three mobile service providers. Dialog Axiata PLC Vice President for Digital Services Fariq Cader also told the Business Times that the company has partnered with five international money transfer institutions so that the remittance can be done from abroad through them to any of the three eZCash mobile networks in Sri Lanka. The money will be instantaneously remitted to the mobile.
“You have to enter the eZCash wallet account number and the surname of the person you are remitting in Sri Lanka,” he added. Also at the launch it was mentioned that via eZCash money equivalent to Rs. 25,000 can be remitted to Sri Lanka.
This is the first time a mobile money service in Sri Lanka has been offered enabling foreign remittance services with its island-wide reach and over 16,000 agent locations. eZCash continues to revolutionise mobile payments in Sri Lanka.
eZCash services also include utility payments, institutional payments and domestic money transfer facilities.