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IDT Launches International Remittance Clearinghouse

Friday, May 20, 2011 5:01:00 AM PDT | VentureDeal Staff

   Newark, New Jersey  --  IDT Corp. (NYSE: IDT) has announced the launch of a new international remittance clearinghouse for mobile network operators.

The new clearinghouse will facilitate connectivity between cash-based money transfer operators and new mobile wallets utilizing the company's transaction settlement and foreign currency exchange services.

This new functionality will allow mobile network operators to expand into previously un-banked immigrant populations in developed countries.

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