Norwegian Firm Offers Mobile Payments To Egyptian Workers

Published October 29, 2009, 1:00 a.m. EDT

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Updated October 29, 2009, 12:00 a.m. EDT

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Luup International Ltd. has signed a deal with Emirates International Exchange to provide cross-border funds transfers via mobile-phone text messages, the Norway-based firm said in a statement. The companies plan to offer the service to Egyptian workers in the United Arab Emirates. Egyptians sent home 3.3 billion dirhams (US$898.4 million or 603.1 million euros) from the United Arab Emirates in 2008, Luup says. Luup earlier this year said it would provide a similar service to Filipino workers in the United Arab Emirates (CardLine Global, 16 Sept.).

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