Singapore-based SwissClear Global has officially launched its mobile phone airtime recharge portal and set up base in several African countries.
SwissClear Global’s service, which allows users to send airtime to over 70 countries irrespective of their locations, is now available in Egypt, Ivory Coast, Madagascar, Mali, Morocco, Niger, Nigeria, Senegal, Tanzania, Tunisia and the Democratic Republic of Congo.
SwissClear said it has partnered with over 200 mobile carriers across the globe to expand its service to its newest frontiers.
“Between 70 to 90 percent of mobile subscriptions in emerging markets are prepaid. In a time where more people are traveling or moving away from home, there is a greater need to stay connected.
“Swissclear Global offers travelers and overseas workers the ability to communicate with family and friends wherever they are, with no service charges added on, making lower denomination transactions affordable,” said Sandy Agarwal, Founder and CEO of Swissclear Global.
SwissClear Global hopes to enter into other emerging markets such as the United States of America and the Middle East.
According to a report, sales of prepaid airtime peaked at US$460 billion in 2011 in emerging markets alone. The company has, in addition to extending its strategy to address the gap in markets where cash is used for the majority of the transactions, created an extensive network of agents allowing “consumers to walk into a corner-store, and pay cash to recharge their loved ones’ accounts in real-time”.
“The benefits of the service to customers are savings on service fees, greater convenience and fast transaction times,” Agarwal said. “Consumers in emerging economies should have access to the same levels of service as more developed markets.”