Cellcom and Citibank are to launch a service which will allow remittance transfers from Israel by clients of all local domestic mobile carriers, through Citi's platform and worldwide distribution channels.
Cellcom CEO Amos Shapira said that global remittances, including to and from Israel, are expected to grow by billions of dollars over the coming years. He said that Cellcom saw a potential growth market and decided to enter it. Cellcom only plans to launch the service by the end of 2010. Under the deal Isracard will issue mobile wallets to Cellcom subscribers.