This week Belgacom ICS and RBS announced that they have signed a memorandum of understanding for the facilitation of foreign currency exchange for mobile remittances. The MOU increases the flexibility in the Homesend international remittance product offered by Belgacom ICS. With RBS’s FXmicropay system provisioning wholesale FX rates to Belgacom, mobile operators now have the choice of whether to manage their own FX risk through the traditional roaming settlement clearing model or to benefit from RBS’s position as a market making bank with access to low FX rates.

How does it work?