Bringing together the m:Wallet solution of the Oberthur Technologies subsidiary, MoreMagic and mBank’s expertise in branchless banking services, the partnering companies have created an extended mobile branchless banking offer. The m:Wallet, that has already supported a number of services such as merchant payment and money transfers, is set to include a range of micro-finance services such as loan, credit and insurance.
mBank’s mission is to contribute towards financial inclusion by operating under a mobile, distributed model and provide financial services, including mobile insurance, saving and loan products, to unbanked and underbanked mobile phone users in emerging economies. mBank Group is an affiliated to PlaNet Finance Group and supported by FMO & Finnfund.
In recent news, Oberthur Technologies has rebranded as ‘The M Company’ to establish itself in the digital security solutions front for the mobility space.
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