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Industry: Email Alert RSS FeedMi-Pay signs mobile money ecosystem contract with African operator
Telecomworldwire, May 7, 2008
TELECOMWORLDWIRE-7 May 2008-Mi-Pay signs mobile money ecosystem contract with African operator(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
A contract has been signed by Mi-Pay, a mobile payments provider, and an East African operator, to provide a mobile money ecosystem to the operator's subscribers, in rural communities, allowing the subscribers to gain from international remittance services and supporting a network of agents in order to support domestic payments made by mobile.
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According to Mi-Pay, its Streetvendor solution allows African mobile operators to empower local agents in Africa to buy and sell airtime to subscribers, helping entrepreneurial networks to grow. It confirmed the solution allows agents to complete transactions from a mobile handset, directly, without the requirement for extra terminals.
The company claimed its direct channel top-up services allow subscribers in Africa to gain airtime via their handsets, removing the need for physical vouchers which can often be hard to access in remote areas.
The African operator reportedly selected Mi-Pay in order to introduce an international money transfer scheme which would allow subscribers to receive money, via mobile phone, from friends and family living and working abroad.
In addition, Mi-Pay said its mobile payments services offering helps African operators to further monetise existing prepaid networks, with the provision of a service enabling third parties to purchase prepaid airtime to be sent to subscribers in Africa.
((Comments on this story may be sent to tww.feedback@m2.com))
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