SecureKey announced it has named Mick Martin as U.S. general manager of financial services, and Michael Ting as vice president of payments. Both have extensive experience in working with leading financial services organizations, including Fair Isaac Corporation, Experian, and PayPal.
Obopay, a leading provider of mobile and instant payment solutions for market-leading brands, announced the availability of Obopay Licensed Payment Services for Partners. Obopay Licensed Payment Services for Partners is a new offering that enables partners to leverage Obopay’s money transfer licenses throughout the U.S. and its expertise in compliance to accelerate bringing their own…
Obopay mobile and instant payment solutions for market-leading brands, announced the availability of Obopay “Disbursements.” The new offering lets subscriber companies disburse funds from their corporate account directly into a payees debit card account at another bank and disbursements as an electronic check through an automated clearinghouse (ACH) transaction, or to a branded prepaid card. The “Disbursements” solution allows companies to realize significant business benefits by converting physical checks and cash into digital payments, which dramatically reduces their costs. Obopay’s offering makes transaction settlement easy for companies by providing them with a single, secure, corporate settlement account that manages all electronic transaction types. Companies can transfer funds from their corporate account directly to a customer’s existing debit card; a bank account via an electronic check; a branded Prepaid Card; or an Email, phone number or mobile wallet.
Obopay mobile banking and payment solution provider collaborated Warid Telecom to launch a mobile banking and payment service, “Warid Pesa.” The “Warid Pesa” offering provides a prepaid account that enables customers to perform e-money transactions, pay for goods and services as well as settle accounts. It is based on Obopay’s open and interoperable mobile money solutions, which now support millions of customers globally for some of the world’s largest brands. It ultimately offers new channels of distribution for offering financial services that are useful in areas with income disparity. It facilitates Person-to-person mobile money transfer; Person-to-merchant mobile money transfer; Send money to anyone; Request money; Obtain a mini statement of the account; Balance inquiry; Change Personal Identity Number (PIN); and Top up prepaid cell phones.
With banks such as US Bank and Regions introducing expanded mobile phone
payment and banking options, advancements in this market are
ever-expanding. This year, it is being projected the m-payment audience
will move from that of margin to more mainstream from about 116 million
to over 375 million by 2015. The sector is growing rapidly, with some accounts
indicating the number
of active users of mobile money services predicted to double in the next
two years, exceeding 200 million by
2013. Nearly 40% of active users in 2015 will be in the Africa&
Middle East region.
These findings are according to research
from In-Stat, which discloses the importance of such factors as growing
smartphone penetration; consumer comfort level; a desire to develop
opportunities to generate revenue from mobile based commerce; and
infrastructural developments supporting contactless payments.
TX-based cMoney mobile phone-based payment and money transfer has appointed Krishna Kashyap Chairman of the Board, bringing with him over 25 years’ experience in global sales, marketing, business development and product development. He’s very seasoned especially in mobile payments, mobile software development, telecommunications, IP telephony, wire line, cable, wireless and Internet. His recent consulting assignments have been for clients including Obopay, Picsel, HearMe, KTF, Polaris Wireless and Tricastmedia to assist them with strategies for international market expansion. Also, Paul Matthews has been appointed CEO and a board member bringing with him a successful marketing and sales background, global strategic planning and business management. cMoney expects to continue to expand its Board of Directors over the next several months enhancing the Board’s capacity to provide strategic counsel, identify future management talent and assist the executive team in achieving the company’s operational and financial objectives.
Obopay mobile banking and payment provider has promoted President Deepak Chandnani to CEO to focus on the company’s growth in size and geographic scope. Appointed President in May of 2010 he doubled the company’s year-over-year revenue through growth in business across US, parts of Africa and India. While sustaining the focus of the Company in its home market, the United States, Deepak has spearheaded Obopay’s expansion into North and East Africa as well as positioned the Company for expansion into parts of Europe. Throughout his time as President, he has overseen Nokia, Union Bank of India, Yes Bank, Societe General, Essar, MasterCard, FIS Global and the STAR network partnerships. He was previously the CEO of Wire and Wireless in India and before that served as the Managing Director for NCR in India while his education includes an MBA from the Indian Institute of Management, Ahmedabad (IIM- A).
Verizon Wireless, AT&T Inc. and T-Mobile USA have partnered to kickoff the “Isis” partnership to compete with credit card companies. Implementing NFC payment through the ‘Gingerbread’ Android smartphone on the Discover Financial Services’ payment network, “Isis” allows users to conduct payments with a wave of their phone and support industry standard NFC chips. This is Discover’s answer to compete with Visa and MasterCard mobile payment initiatives and adds to the fierce competition for the top mobile payment network. This comes on the heels of recent research concluding mobile payments will account for $214 billion in gross dollar volume by 2015, up from US$16 billion in 2010, for a 68% compound annual growth rate. This, according to Aite Group, is based on data drawn from such major players as American Express, Apple, AT&T, Bank of America, Bill2Mobile, BlackBerry, Bling Nation, BOKU, ClairMail, Visaâs Cybersource, Diebold, Discover, Euronet, First Data, FIS, Fiserv, Gemalto, Global Payments, Heartland Payment Systems, Inside Contactless, Intuit, MasterCard, Mocapay, MoneyGram, Monitise Group, mopay, NetSpend, Nokia, Oberthur Technologies, Obopay, Sybase, VeriFone, Visa, ViVOtech and Wincor Nixdorf.
Tyler Sloat has joined Zuora subscription billing as CFO, bringing with him financial experience in securing capital and growing market leaders in mobile payments and storage and cloud computing, including raising over $100 million for Obopay. He will over see mobile payment operations in his new role. Most recently, Sloat was the CFO for Obopay, the global leader in mobile payments where he was responsible for all finance, accounting, treasury operations and business intelligence functions. Sloat was integral in raising well over $100M in investment and strategic capital, forming global commercial relationships with the likes of Nokia, MasterCard and Societe Generale, and deploying Obopay’s mobile payment service in four countries spanning three continents. He holds an M.B.A. from the Stanford Graduate School of Business and has a B.A. from Boston College.
Obopay mobile money solutions has forged agreements with the STAR Network through which Obopay will incorporate the STAR “Expedited Transfer Service” real-time transfers. Allowing instant tranfers between STAR accounts, the STAR “Expedited Transfer Service” places the demand deposit account at the center of the transaction and offers transaction speeds not possible with Automated Clearing House (ACH) transfers. This ultimately allows banks to offer a fast, secure and convenient way for their customers and members to send and receive money using their mobile phones. STAR member financial institutions are eligible to offer their customers the ability to initiate both outbound and inbound Expedited Transfer transactions, so STAR cardholders can send funds to their own or other people’s STAR accounts as well as pull money from their STAR cards into another account. STAR is a First Data company and a leading debit network.
Societe Generale financial services and Obopay mbanking have teamed to bring mpayment services to banked and unbanked customers who have access to a mobile phone with “Yoban’tel by Obopay.” With “Yoban’tel by Obopay,” mpayments are accessible available in new markets on a carrier-agnostic, mobile money transfer and bill payment service available to all the people of Senegal with a mobile phone. This is accomplished by leveraging SGBS’s current branches and opening up new channels of distribution for banking services through commercial partners including Credit Mutuel du Senegal, TIGO and CANALSAT HORIZONS. Users can enroll for a mobile payment service and load or pick up cash at designated locations throughout Senegal. They can also use the service to send money to anyone throughout the country, or to pay a bill.
MasterCard Worldwide and Obopay have teamed to offer the “MasterCard MoneySend” service for iPhone and iPad users. MasterCard MoneySend allows users in the U.S. to send or request money via their iPhone through participating banks and credit unions, or when
they create a virtual prepaid account through Bancorp Bank that is
linked to an existing MasterCard payment card or checking account. The
designated account funds the MoneySend transaction, and users can manage
and trigger the exchanges through the app. Personal and financial
information is never stored on the iPhone or iPad.MasterCard MoneySend is available for free
download at the iPhone App Store.