Malaysian operator Maxis and Western Union have teamed up to launch the mobile money service that would allow Maxis subscribers to send cross-border remittances directly from their mobile phones. The service, which is expected to be rolled out in early 2010, is the first such deal Western Union has ever made. As a result, 11 million+ Maxis subscribers in Malaysia will be able to send funds from their mobile phones, and the recipient will be able to pick up the funds in cash at more than 345,000 Western Union Agent locations in 200 countries.
For the record, more than $6.4 billion in remittances was sent out of Malaysia during last year. Many of these were sent by the estimated 1.9 million foreign workers living in the country — largely Indonesians, Filipinos, Bangladeshis, Nepalese and Vietnamese.
[Via: CellularNews]