CardWeb.com’s CardExecs database of payments industry movers and shakers today features Sunil Bharti Mittal, Chariman of Airtel Money.
The global mobile money market is projected to grow from $12.34 billion in 2014 to $78.02 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 44.6%. In the year 2007 mobile money has evolved from providing payment transactions though Short Messaging Services (SMS) and Direct Mobile Billing to the more contemporary Near Field Communication (NFC)/ Smart Card transactions.
Last year Visa, Chase and Bharti Airtel launched the Airtel Money Visa Card in Kenya and this year are taking their partnership into seven new African markets. New Delhi-based Airtel is a global telecommunications company with operations in 20 countries across Asia and Africa.
VeriFone Mobile Money and Airtel Africa reached an agreement to offer VeriFone Mobile Money’s merchant enablement applications for mobile Tap n Pay across their 17 operating companies in Africa. VeriFone Mobile Money’s Tap n Pay applications are a smart, secure and fast way for customers to pay, buy, bank, bill and remit money with their mobile phone at the point of sale. VeriFone Mobile Money has signed a group master agreement for the delivery of its merchant enablement solutions to Airtel Africa part of the Bharti Airtel Group of companies with operations in 20 countries across Asia and Africa.
MoneyGram International global payment services company 2Q/11 saw revenue increase 9% to $310.0 million from the year ago figure of $283.9 million while transaction volume was up 15% and money transfer fee was up 11%. This was due in part to global agent locations having grown from the year ago period to total 244,000. Net…
Bharti Airtel launch its “airtel money” mobile wallet service. Providing customers an efficient alternative to cash transactions, “airtel money” will give access to a convenient and secure way of making payments through the ubiquitous mobile platform. Airtel has already established partnerships with over 2,200 merchants in Delhi NCR who will accept payments via airtel money. Customers using “airtel money” will also be able to avail exclusive discounts and attractive offers at various merchant outlets in the market.
InfoVista launched its “Vista360 2.0” award-winning self-service performance management Web 2.0 application. Giving flexible and simplified management of operational and customer reporting for service providers and enterprises, the “Vista360” update lets users in network and IT service operations centers pinpoint, analyze and collaborate in real time on network performance and service quality degradation, gain a high-level perspective of network utilization and return on investment, and improve operational troubleshooting on the entire service chain. Vista360 2.0 promotes collaboration both inside and outside of the NOC by enabling one-click sharing of any dashboard as well as access to the underlying performance information through external web-based applications.
InfoVista service performance assurance will introduce its new unified solution for cloud service assurance at TM Forum Management World in Dublin. Extending its flagship VistaInsight for Networks and VistaFoundation to support cloud-based technologies, InfoVista’s best-of-breed carrier grade performance assurance platform offers end-to-end performance assurance, visibility and reporting for Infrastructure as a Service (IaaS) and other private or public cloud-based applications and services. InfoVista’s solution provides comprehensive support for all virtualization technologies, including the Virtual Computing Environment coalition Vblock infrastructure packages, a collaborative development of Cisco, EMC, and VMware in concert with their vendor ecosystems that integrates virtualization, networking, compute, storage, security, and management technologies, accelerating the service provider’s time to market for launching cloud services.
airtel Africa, Standard Chartered Bank and MasterCard were honored for mobile payments innovation at the 16th Annual Global Mobile Awards held during Mobile World Congress (MWC) 2011. The recently launched virtual card product, developed in collaboration between airtel Africa, Standard Chartered and MasterCard, received top honors as the Best Mobile Money Product or Solution. Honored by a panel of mobile industry experts, the virtual card product was recognized as an innovative mobile payments solution that will offer consumers in Kenya, and eventually across Africa, greater participation in the financial system through mobile commerce.
Targeting India’s underbanked demographic, State Bank of India and bharti airtel telecommunications have forged a joint venture (JV) to make available banking services. With this, SBI and airtel will now offer a suite of banking services via both the mobile platform and a state-wide network of branches and retail distribution outlets. With the penetration of mobile teledensity standing at a strong 60%, the market possesses great potential for a collaboration that combines the strengths of both banking and telecom sectors, he adds.
The Western Union Company has certified two participants in its Mobile
Vendor Program: India-based mChek and South Africa-based Fundamo.
WU has also selected mobile value added solution provider Comviva as a new
participant in the program. The Mobile Vendor Program is intended to
extend the reach and accessibility of Western Union Money Transfer
services to mobile finance initiatives in Latin America, Africa, the
Middle East and Asia. mChek and Fundamo are the first to be certified
in Western Union’s program. Fundamo’s Enterprise Mobile Financial
Services platform is designed for configuration to
evolve with the needs of mobile subscribers wih 40 deployments in over
30 countries, most of which located in Africa and the Middle East.
mChek offers a hosted service for Mobile Money
Transfer and secure payments using credit cards, debit cards, bank
accounts and stored-value wallets. Other participants include
Singapore-based Utiba, U.S.-based Sybase 365, YellowPepper, a mobile
vendor in Latin America, and now, India-based Comviva. Mobile operators
who sign agreements with certified Western Union Mobile Vendors and
Western Union will be able to offer their subscribers the option to send
and/or receive money through Western Union’s money transfer system.
Western Union entered the mobile
financial services space in the second quarter of 2008, with an
endorsement for a global pilot program by the GSM Association, a global
trade association representing more than 750 mobile operators
Neuilly Sur Seine-based Ingenico has inked a deal to acquire Germany’s
easycash Beteiligungen for 290 million euros. Last year easycash
generated revenue of 85.7 million euros. Revenue coming from transaction
processing represented 56% of total revenue, while revenue generated by
POS terminal services and loyalty solutions represented 29% and 15% of
total revenue, respectively. easycash has been under the ownership of
Warburg Pincus. easycash is expected to generate by year end pro forma
revenue close to 100 million euros. Ingenico generated pro-forma revenue
of 780 million euros in 2008. The implementation of final agreement is
subject to the approval of German anti trust authority,
Bundeskartellamt, and consultation of Ingenico workers’ council.