MTN goes with Fundamo for mobile wallet rollout
By Ben Robinson on Tuesday, March 17th, 2009 at 4:52 PM PST In Carriers
Fundamo has announced that MTN Group (who some of you may know as Africa’s leading Operator) have chosen them to deliver their m-wallet solution to around 80mn subs in 21 countries in Africa!
The deal is apparently worth US$9.7mn, and will mean that subs that don’t even have direct access to banks will be able to have access to financial services. Actually, the deal is extending a current relationship between the two companies, expanding the “MTN MobileMoney” offering.
You might be wondering about the security of m-commerce solutions, but actually MTN MobileMoney is a SIM-based version of the Fundamo Mobile Wallet solution – and it uses security that’s equivalent to an ATM system i.e. PIN-based. Services available include money transfer, payments, and balance checking – basically all the key stuff you’d expect from an (online) bank account.
Personally I think this is a great thing – not only because m-commerce is genuinely useful, but because it represents a great solution to the needs of users that don’t have access to traditional banking infrastructure. Good work MTN!
[Via: bi-me.com]
