International mobile money transfer company Voice Cash Group has begun to offer banking services after being granted a licence by the Maltese regulator, e-commercejournal.com reported yesterday.

The Voice Cash service, offered to mobile operators, banks and firms, allows users transfer funds in real-time through their handsets using text messages and voice biometrics call back functionality.

Voice Cash is aiming to broaden its services and reach, targeting the multi-billion dollar remittance market, through Voice Cash Bank, which is registered in Malta and supervised by the MFSA. One of the new services planned by Voice Cash Bank is a salary card aimed at migrant workers dependent on pre-paid cards in the Middle East. As many of these do not have bank accounts in their host countries, their wages have to be paid in cash or by some form of pre-paid card. The firm says its service will make it easier and cheaper to transfer money home with their mobile phones.

The new bank is headed by Josef Leckel, formerly director of operations for Western Union Financial Services in Central and Eastern Europe.

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