Lebara Money will build on companies relationship with ethnic communities and will hopefully be as big as the mobile business chief executive says
Ethnic market MVNO Lebara has launched a new sub brand, Lebara Money to provide customers with a range of financial services and products.
Lebara chief executive Ratheesan Yoganathan (pictured) told Mobile News said he hoped the money service would eventually be as successful as Lebara’s mobile business.
“Money transferring services is where the future is going to be and this is where our focus is going to be as well,” Yoganathan says.
“I would love for the money service to be on a par with the mobile side of things because all the customers on mobile, in my point of view, have a money transferring need.”
Lebara Money’s first product, the Lebara Prepaid MasterCard offers customers – particularity those from ethnic communities – an international money service where they can issue ‘sub cards’ to family or friends overseas.
These cards, like the users main card can be topped up online or via 30,000 pay points across the UK and can be used like a regular debit card at any MasterCard accepting outlets.
The service has been developed by Lebara in conjunction with MasterCard and the Newcastle Building Society.
Yoganathan said the move into the money transferring market was a logical step for the MVNO.
“Lebara made making calls home easy, efficient and affordable. We want to offer customers the same high level of service and peace of mind when they send their hard earned money home,” Yoganathan said.
The card is currently being aimed at a number of ‘key payment destinations’ including Nigeria, Ghana, the Philippines and China and can be purchased directly from Lebara on its website for £14.90