Comviva, Sybase 365 and Utiba, leading platform providers of
mobile financial services, are the first to join the program
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Company Website:
http://newsroom.mastercard.com/
PURCHASE, N.Y. -- (Business Wire)
MasterCard
(NYSE:MA) today announced a global initiative called the MasterCard Mobile
Money Partnership Program to help more than 2.5 billion
financially-underserved consumers worldwide gain access to formal
financial services through their mobile phones.
Mung Ki Woo, Group Executive, Mobile, MasterCard Worldwide (Photo: Business Wire)
MasterCard is working with preferred platform partners Comviva,
Sybase
365 and Utiba
to enable consumers to purchase goods and services via their mobile
phones at millions of brick and mortar and online merchants worldwide,
as well as transfer funds and pay bills.
Mobile Money addresses the needs of consumers in developing markets
through a readily accessible device, the mobile phone. While only about
half of the world’s households have bank accounts – and an even lower
proportion in developing countries – seven out of 10 people worldwide
have a mobile phone. According to Juniper
Research, the combined market for all types of mobile payments is
expected to reach more than $600B globally by 2013, double the current
figure.
“With about five billion mobile phone users worldwide, this program
provides powerful, smart and convenient new payment options to people
through a device that’s already in the palm of their hands today,” said Mung
Ki Woo, Group Executive, Mobile, MasterCard Worldwide. “Our approach
is to work with all leading players in the Mobile Money ecosystem to
bring the benefits of electronic payments to those who otherwise
wouldn’t have access to formal financial services. Comviva, Sybase 365
and Utiba are key strategic platform partners to help implement this
vision.”
Stored value accounts, managed primarily by mobile network operators and
supported by banks, offer basic services such as mobile top-up, bill
payments and P2P payments within the network. By working with Comviva,
Sybase 365 and Utiba, the first companies to join the program,
MasterCard is helping mobile network operators and financial
institutions accelerate and expand the development of their financial
services offerings to their customers. Comviva, Sybase 365 and Utiba’s
mobile money solutions are installed or being deployed by more than 200
telecommunication operators and banks across the globe covering more
than one billion consumers.
The Mobile
Money Partnership Program offers consumers the following MasterCard
services:
-
Prepaid companion cards that account holders can use at merchants that
accept MasterCard cards.
-
Virtual card accounts that can be used for eCommerce payments with a
user’s mobile money account.
-
Person-to-person payments between subscribers of two different mobile
money services.
-
Face-to-face or remote payments using mobile phones for goods and
services at merchants that do not have traditional POS acceptance.
Commenting on this partnership program, Manoranjan Mohapatra, CEO,
Comviva said, “As a dominant player in the mobile financial industry,
Comviva has an enviable position of scale and global reach in the
emerging markets. This makes us an unequivocal partner of choice for
MasterCard to launch its mobile money partnership program. This
partnership program will also provide the right impetus to foster
financial inclusion globally.”
“By providing solutions to emerging markets through a flexible
partnership program, MasterCard is unlocking opportunities for
innovation throughout the entire ecosystem,” said Matthew Talbot, Senior
Vice President of mCommerce, Sybase 365. “As a lead preferred partner
with MasterCard, we will demonstrate our expertise in bringing operators
and financial institutions together to create mobile financial services
solutions that reach millions around the world.”
“The partnership with MasterCard is a key part of our Converging
Payments strategy, which calls for the intersection of mobile wallet
networks with card based payment networks. We are extremely confident
that this joint initiative will accelerate financial inclusion of the
underserved. Expanding our customers’ national mobile wallet systems to
access MasterCard’s ubiquitous payment network will allow the previously
underbanked to participate in the global economy,” mentioned Richard
Matotek, Co-CEO and Co-Founder of Utiba.
About MasterCard
MasterCard (NYSE: MA), www.mastercard.com,
is a global payments and technology company. It operates the world’s
fastest payments processing network, connecting consumers, financial
institutions, merchants, governments and businesses in more than 210
countries and territories. Mobile Payment Solutions (MPS) is a joint
venture between MasterCard and Smart Hub Inc. that provides mobile
payments processing and gateway services. MPS enables interoperability
through the MasterCard Worldwide Network, providing comprehensive
solutions that facilitate payments between mobile network operators,
financial institutions and third party systems. Follow us on Twitter @mastercardnews,
join the conversation on The
Heart of Commerce Blog and subscribe
for the latest news.
About Comviva
Comviva is the global leader in providing mobile solutions beyond VAS.
With an extensive portfolio of solutions spanning VAS infrastructure,
applications delivery platforms and customer-facing applications,
Comviva enables mobile service providers to enrich mobile users’ lives,
whilst rationalizing costs, accelerating revenue growth and enhancing
customer lifetime value. Comviva’s solutions are deployed by service
providers in over 90 countries and power services to over a billion
subscribers globally. For more information, please visit www.comviva.com.
About Sybase 365
Sybase 365, a subsidiary of Sybase, Inc. (an SAP company; NYSE: SAP), is
the global leader in enabling mobile information services for mobile
operators, financial institutions and enterprises. We provide our
customers with the widest offering in SMS, MMS, GRX, IPX
interoperability, end-to-end mobile commerce solutions, innovative mCRM
and mobile marketing services. Sybase 365 processes more than 1.8
billion messages per day, reaching 900 operators and 5.5 billion
subscribers around the world. For more information, visit: www.sybase.com/365.
Read our blogs: http://blogs.sybase.com.
Follow us on Twitter at @Sybase.
Sybase and Sybase 365 are trademarks or registered trademarks of Sybase,
Inc.
About Utiba
Utiba has spent more than a decade developing the leading mobile
financial services platform in the market, in pursuit of its vision of enabling
everyone to make mobile payments. Implemented in more than 30
countries, the Utiba Mobility platform supports 500 million subscribers
and processes over 12 billion transactions per year, and allows people
to send money, pay bills, receive salaries and more, all from their
mobile phone. Privately held Utiba is headquartered in Singapore, with
seven regional sales, support and development offices worldwide. For
more information, visit www.utiba.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50178428&lang=en
Contacts:
MasterCard
Media Relations:
Brian
Gendron,914-249-1284
brian_gendron@mastercard.com
or
Comviva
Technologies Ltd.
Media Relations:
Sundeep
Mehta, +91 124 481 9000
sundeep.mehta@comviva.com
or
CJP
Communications (for Sybase 365)
PR Contact:
Emily
Cleary, 212-279-3115 x257
ecleary@cjpcom.com
or
Utiba
PR
Contact:
Erin Clancy, 305-747-1339
eclancy@utiba.com
Source: MasterCard
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