The Mobile Money Solution is targeted towards servicing population with mobile money accounts and bank accounts within an ecosystem with one financial service provider and a range of various market service providers. The solution does not require integration and complex negotiations with mobile network operators and other financial instutions.
Branchless servicing is the the entry level in the development of mobile channel for delivery of financial services to mobile customers. Furthermore, the roll-out of mobile payment services, is facilitated through the innovative use of pro-active and efficient agents as a flexible network for service distribution.
The mobile approach allows effective interception to both banked and unbanked customers through direct efforts of sale agents.
The mobility, which the platform enables, allows easy coverage by a financial service provider of vast low-populated areas with underbanked customers, since only mobile agents with mobile equipment are necessary for service delivery.
Cart The security of transactions is guaranteed with the contactless ID card and/or mPIN entered through a personal mobile phone, since it is required for confirmation of withdrawals and transfers executed by the mobile agent.
The mobile wallet model allows the transformation of the payment institution into a national or regional payment system of participating members. As an open system, it can exist under the control of a strategic market player or as a shared system of the members. Notwithstanding the system control, it allows flexible separation of the values among the service providers offering the service to merchants and consumers.
The combination of ordering and paying through the mobile phone is the most natural one and utilizes the vast opportunities of instant emotional decision on making purchases and significantly increases sales revenues. Basically, mobile commerce repeats the effect online sales had on commerce, however on a much larger scale, as now every billboard, radio commercial, paper advertisement and so on can contain an offering code and become a trigger for an instantenuos purchase.