XB payments jv
Wameja and Mastercard are joint venture partners of the HomeSend global payment hub. HomeSend enables cross-border transfer between bank accounts, cards, mobile wallets, or cash outlets from anywhere in the world.
The opportunity
Wameja is a rare and unique opportunity to invest in the cross-border market in partnership with one of the world’s leading payment and technology solution providers, in a JV structure.
The JV is mature enough to have the global network, and has its DNA in technology and digital solutions.
US$
0
trillion
Annual global cross-border transaction volumes
*McKinsey Global Payments 2018
Joint Venture Partners
Mastercard
As a founding partner of the HomeSend Hub, Wameja helped conceive and bring the opportunity to market. Wameja developed and incubated the technology. HomeSend was originally develop as a strategic partnership in 2008 before being launched as a Joint Venture with Mastercard in 2014.
homesend metrics
For Q3 2019
67
Key Destination
Markets
Up from 60 in Dec 18
+3%
increase in average transaction value over previous quarter
+0.2%
increase in gross value flow across the platform over previous quarter
47%
of payments on the platform terminating to a bank account
Up from 32% in Dec 18
Shareprice
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message from the chairman
John Conoley
Wameja Chairman & HomeSend Board Member
“Cross-border payments is a multi-trillion dollar market. We believe that HomeSend is increasingly well positioned to provide a true comparable proposition to correspondent banking on a global scale but with lower-cost capability for bank customers whilst significantly improving the quality of that service in both speed and transparency.
“HomeSend has established and validated reach in 60 key destination markets under its current model representing 50% of global trade flows and 70% of global remittances and it aims to increase this reach to cover markets which represented 80% of global trade flow destinations and remittance destinations in 2019.”
About Homesend
HomeSend connects the world by way of our network which enables paying Financial Institutions (banks, mobile money operators, money transfer organisations and more) to transfer funds to receiving Financial Institutions in a way that is safe, convenient and cost-effective.
industry insights
XB Payments is a multi trillion dollar industry, characterised by delays and inefficencies.
