Australian micropayment service provider Mobile Handset Initiated Transactions (mHITs) has reportedly announced that it has added “an international mobile remittance corridor” that allows account holders to send funds to mobile wallet users in Ghana. Recipients do not need a bank account to use the service [1].
Remittance services from mHITs may be used to send money from Australia to the Philippines, Ghana and Nepal. Senders incur a fee of AUD 10 (USD 10.5) plus 5 percent of the amount sent per transaction. Senders can transfer between AUD 50 (USD 52.4) to AUD 250 (USD 262) per transaction [2]. Financial and customer data on mHITs are unavailable.
For the year 2010, 20 microfinance institutions (MFIs) in Ghana report to the US-based nonprofit Microfinance Information Exchange (MIX) an aggregate gross loan portfolio of USD 91.9 million outstanding to approximately 241,000 borrowers and aggregate deposits of USD 93.6 million.
By Brendan Millan, Research Associate
About Mobile Handset Initiated Transactions (mHITs): Founded in 2004, mHITs is an Australian micropayment service provider that allows users to make ritual purchases and send and receive payments through mobile phones. Remittance services from mHITs may be used to send money from Australia to the Philippines, Ghana and Nepal. Senders incur a fee of AUD 10 (USD 10.5) plus 5 percent of the amount sent per transaction. Senders can transfer between AUD 50 (USD 52.4) to AUD 250 (USD 262) per transaction. Financial and customer data on mHITs are unavailable.
Sources and Resources:
[1] Mobile Money Africa: “New Mobile Remittance Corridor between Australiaand Ghana” by Emmanuel Okoegwale. http://mobilemoneyafrica.com/new-mobile-remittance-corridor-between-australia-and-ghana/
[2] Mobile Handset Initiated Transactions (mHITs): “Remit.”, http://www.mhits.com.au/send-money/
MicroCapital.org Article, March 15, 2012, “Airtel, Unibank, Star Microinsurance Offer Free Life Insurance to Customers of Airtel Money Mobile”, https://www.microcapital.org/microcapital-brief-airtel-unibank-star-microinsurance-offer-free-life-insurance-to-customers-of-airtel-mobile-money/
MicroCapital Universe Profile: Mobile Handset Initiated Transactions (mHITs), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mobile+Handset+Initiated+Transactions+%28mHITs%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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