Fidelity National Information Services, a provider of core processing, card issuer and transaction processing services, and Obopay, a provider of mobile payment solutions, have launched a person-to-person mobile money transfer service for financial institutions using FIS core processing services.
With the Fidelity National Information Services (FIS) mobile person-to-person (P2P) service, financial institutions can introduce branded mobile payments to their customers, who can immediately send and receive money from friends and family, anytime, anywhere - safely and securely, said FIS.
The FIS mobile P2P service will initially be offered with checking accounts or prepaid cards linked to the mobile phone, enabling users to send and receive payments. To use the FIS mobile P2P service, consumers simply link their checking account or payment card to their mobile phone, added FIS.
Gregory Holmes, president of US-based operations for Obopay, said: “This alliance with FIS is further evidence of the importance and value of mobile payments to banks and their customers. As our mobile payment service continues to evolve in concert with established financial services firms, we remain committed to delivering solutions that enable banks to drive new revenue and connect with America’s more than 260 million mobile consumers.”
For more information please visit www.fidelityinfoservices.com
About Wireless Federation
Wireless Federation is an industry research conglomerate headquartered in London, United Kingdom. The mandate of the Wireless Federation is to provide its members and customers industry knowledge that can further enhance their understanding of the wireless industry. Wireless Federation conducts bespoke research and produces boxed reports in collabaration with Industry Bodies, Telecom Operators for Issues that revolve around ARPU, CHURN and Loyalty.
They have been associated with more than 225 mobile operators globally to set their Pricing/ Tariff Strategies, Go-To-Market Strategies for Mobile Advertising, Mobile Payments, Cutting VAS among others amongst 59 countries globally.
For more information you can log on to www.wirelessfederation.com
Wireless Mobile Telecom Wireless News
Mobile Banking, a new term for the players who are planning to bring banking to India’s rural population. Yet the final guidelines are not issued by RBI. But the players have started working on the concept of Mobile banking.
Obapay (US-based mobile payment company) is entering Indian market with the Partnership of Yes Bank is gaming on Indian Mobile Banking.
Aim of the pilot project is to connect with rural population of India which is soon going to be launched in Mumbai. As mobile banking is a quite new concept in India, security issues are up till now a big concern, major reason is that RBI has still not issued final guidelines on mobile banking.
Aditya Menon, CEO, Obopay India, said that “The RBI does have certain value based limits and banks can regulate how much they want to transfer depending on the nature of transaction. We have a two factor authentification procedure and that way unsolicited calls from any bank is not even possible, hence phising won’t happen.”
‘’The US is a serious banking environment, people are much more comfortable with mobile banking, and the facilities needed are much more clearly defined,” said Carol Realini , CEO, Obopay added
Considering the Scenario of Indian Market, with hazy security regulations and challenges of providing multilingual services in the rural environments. Will the 25% mobile penetration in India alone make this a succesful model, is a big question in front of the players.
Wireless Mobile Telecom Wireless News
Verizon Wireless has agreed to work with Obopay to launch a mobile payments service in the US. The Obopay service allows users to receive, send and spend money via their mobile phones. Users can access their mobile money using an Obopay prepaid MasterCard, which can be used at any ATM or retail outlet that accepts credit cards. Users can also check their account balances, collect money owed from other mobile users, view transaction histories, and invite friends to use the service. Obopay will initially run on Verizon Wireless mobile phones as a BREW application that can be downloaded from the Verizon Wireless website. After downloading the application, users will be able to sign up for the service directly from their handset or at Obopay’s website.
(US)
Wireless Mobile Telecom Wireless News
FIS and Obopay launch person-to-person mobile money transfer service
