Besides this service, the company plans to roll out a comprehensive remittance and an eWallet platform for emerging markets as well as a proprietary payment processing, fraud management and merchant management platform.
Unbanked customers will be enabled to send money to other countries using a mobile phone, an email address, and a government ID at competitively low prices as a result of this joint venture. This is targeted primarily at migrant workers seeking to send money home. Paystar’s technology allows users to transfer via SMS or the Paystar Mobile App from their payroll cards or eWallets to a global network of beneficiary banks.
Paystar’s pricing can be USD 8.17 per transaction. According to its web site, Paystar serves Egypt, Ethiopia, Sudan, Kenya, India, Pakistan, Indonesia, Philippines, Vietnam, UAE, Jordan, Lebanon, Syria, and Yemen. Paystar aims to expand its mobile payroll and remittance services throughout the Middle East, starting with Qatar, United Arab Emirates (UAE), Oman, and Saudi Arabia.
Paystar was founded in 2004, is headquartered in Nevada, and has 30 employees with most in Qatar.
Net Element is a software and services company for global online and mobile payments. It operates a merchant processor in the US with merchant offerings from Aptito and a mobile payment processor in primarily in Russia.
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