Mobilis to launch m-wallet service for international money transfers

Friday 1 June 2012 14:44 CET | News

Mobilis, a US-based provider of mobile wallet and billing services for mobile operators, is set to launch a mobile wallet with point-of-sale fingerprint verification for international money transfers and NFC mobile payments.

Via the Mobilis mobile wallet services for international remittances, mobile operators are set to be able to receive international money transfers into their subscribers mobile wallets through point-of-sale devices located in other countries.

When a customer enters a partner retail outlet in one country to transfer cash into the mobile wallet of someone in another country, the shopkeeper uses a supplied point-of-sale payment device with a biometric fingerprint reader and the Mobilis software. The customers fingerprint is verified for KYC (Know Your Customer) purposes. The shopkeeper then enters the receiving country, currency, mobile number and amount to send. The device communicates with Mobilis central server and its international remittance partners and reports back with the foreign exchange deal. The customer then hands over cash, the transaction is confirmed and the amount is transferred into the receivers mobile wallet. After receiving the funds in their mobile wallets, mobile subscribers can use their phones to pay for goods and services, pay bills and top-up airtime using tap-n-pay NFC (Near Field Communication) at the point-of-sale.

The Mobilis mobile wallet services for NFC can be deployed by mobile operators and support all types of mobile phones. For the mobile subscriber to use the NFC service, the mobile operator needs to affix a NFC chip to their mobile phone and register the subscriber, the same source explains.

The Mobilis mobile wallet services are currently being rolled out across Asia-Pacific, the Middle East and Africa.

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Keywords: Mobilis, m-wallet, international money transfers
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce