‘Mobilismoney’ launched for the Unbanked

Microfinance Focus, July 30, 2010: New Zealand based turnkey provider of Wireless and Wireless Broadband communication solutions across the Middle East, Africa, Asia and Oceania, Mobilis Networks Limited has released MobilisMoney, the Mobilis Mobile Money Transaction Platform, says a press release.

 MobilisMoney utilises USSD and SMS to allow an Operator’s subscribers to send money via mobile to any other mobile instantly, securely and without the need for a bank account. With MobilisMoney subscribers can transfer money to other subscribers, deposit and withdrawal money from authorised agents, pay for goods and services, pay their bills and top-up their airtime via their mobile money accounts.

Referring to these new business models, Mobilis CEO, Chris Jones says, “With a billion mobile phone users not having bank accounts there is a significant mismatch between mobile subscriber numbers and bank account holders. This represents a massive opportunity for Mobile Operators to offer new financial services to lift revenue, increase subscriber numbers and reduce churn.”

With MobilisMoney Operators can provide banking services that are otherwise out of reach to the ‘unbanked’ population. MobilisMoney presents a distinct competitive advantage over operators not offering mobile financial transaction services; this leads to strong customer acquisition and establishes new levels of stickiness between the operator and subscriber.

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