Gross Value Flows across both HomeSend bank and MTO network in Q2 saw a remarkable rise; virtually double Q1, leading to the urgent requirement for a €15m facility from Mastercard last month. HS continues to focus on its banking business, but the nearly equal growth between bank and MTO business in Q2 is due to several recently added MTOs and an increase in demand for person-to-person transfers during the COVID-19 pandemic. With more small-scale personal transfers, there was little chang
28 Jul 2020
Wameja - Q2 HS network volumes rose 93% on Q1
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Wameja - Q2 HS network volumes rose 93% on Q1
- Published:
28 Jul 2020 -
Author:
Andrew Darley | Cavendish Research -
Pages:
3
Gross Value Flows across both HomeSend bank and MTO network in Q2 saw a remarkable rise; virtually double Q1, leading to the urgent requirement for a €15m facility from Mastercard last month. HS continues to focus on its banking business, but the nearly equal growth between bank and MTO business in Q2 is due to several recently added MTOs and an increase in demand for person-to-person transfers during the COVID-19 pandemic. With more small-scale personal transfers, there was little chang