BOSS Money Expands Remittance Service to Ethiopia with Direct Deposit
12 Mai 2022 - 2:30PM
IDT Corporation (NYSE: IDT) - a global provider of fintech, cloud
communications, and traditional communications services - today
announced that its BOSS Money remittance service now offers direct
deposit to approximately 40 million accounts across Ethiopian
banks. The expanded service, powered by Terra Pay, enables BOSS
Money customers in the United States to send cash directly to the
bank accounts of family and friends in Ethiopia for receipt within
minutes.
“BOSS Money has attracted a loyal following in
the Ethiopian diaspora because of our reliable cash pick-up
service, low fees, and favorable exchange rates,” said Alfredo
O’Hagan, IDT’s SVP for Consumer Payments. “Now, we are pleased to
offer direct deposit to 40 million accounts at Ethiopian banks in
addition to cash pick up at over 4,600 branch locations.”
BOSS Money customers can transfer up to US$100
to Ethiopia for as low as US$3.99 or up to US$2,999 for as little
as US$6.99 through the BOSS Money and Boss Calling apps, while
taking advantage of BOSS Money’s ultra-competitive exchange rates.
The apps are free on the App Store and on Google Play. Senders
utilizing either app or the bossrevolution.com website for the
first time pay no fees on transfers up to US$300. Customers in the
United States can also send cash from over 1,000 BOSS Money
retailers across the country.
BOSS Money’s direct deposit option is available
to account holders at the following Ethiopian Banks: Abay Bank,
Addis International Bank, Awash International Bank, Bank of
Abyssinia, Berhan International Bank, Bunna Bank, Commercial Bank
of Ethiopia, Cooperative Bank of Oromia, Dashen Bank, Debub Global
Bank, Development Bank of Ethiopia, Enat Bank, Lion International
Bank, NIB International Bank, United Bank, Wegagen Bank, and Zemen
Bank.
About IDT Corporation:
IDT Corporation (NYSE: IDT) is a global
provider of fintech, cloud communications, and traditional
communications services. We help families to share, communicate and
support each other across international borders. We also enable
businesses to transact and communicate with their customers with
enhanced intelligence and insight.
Our BOSS Money international money
remittance and mobile top-up services offer
convenient and reliable value transfers. Our BOSS
Revolution calling service provides dependable voice and
messaging communications globally. Our National Retail
Solutions’ (NRS) point-of-sale retail network enables independent
retailers to operate and process transactions more effectively
while providing advertisers and consumer marketers with
unprecedented reach into underserved consumer
markets. net2phone’s unified communications as a service
solution provides businesses with intelligently integrated cloud
communications and collaboration tools across channels and devices.
Our IDT Global and IDT Express wholesale
offerings enable communications service enterprises to provision
and manage international voice and SMS services.
About
TerraPay:
Headquartered in the Netherlands, TerraPay
believes that the smallest payment deserves a borderless journey as
safe as the largest. The company has been building an
ever-expanding payments highway that empowers businesses to create
transparent customer experiences with an uninterrupted, secure, and
real-time global passage for every payment, however small or large.
Registered and regulated across 26 global markets, TerraPay is a
leading global partner to banks, mobile wallets, money transfer
operators, merchants, and financial institutions, creating a more
expansive and inclusive international financial ecosystem. With
access to payments infrastructure that spans the globe, their
partners become beacons of the promise of global financial
inclusion. For more information, please visit terrapay.com
All statements above that are not purely about
historical facts, including, but not limited to, those in which we
use the words “believe,” “anticipate,” “expect,” “plan,” “intend,”
“estimate,” “target” and similar expressions, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. While these forward-looking statements
represent our current judgment of what may happen in the future,
actual results may differ materially from the results expressed or
implied by these statements due to numerous important factors. Our
filings with the SEC provide detailed information on such
statements and risks and should be consulted along with this
release. To the extent permitted under applicable law, IDT assumes
no obligation to update any forward-looking statements.
Contact:Bill Ulrey IDT
Investor RelationsPhone: (973) 438-3838E-mail: invest@idt.net
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