Telkomsel Indonesia has launched its digital wallet for its 140 million subscribers. The TWallet is powered by Mozido in partnership with Verifone, and Finnet Indonesia.
Tencent’s WeChat has become the first social communication application to provide a technology platform to support person-to-person cross-border money transfer capabilities to more than 200 countries and territories. WeChat U.S.users can now access Western Union’s WU Connect platform.
Fiserv and Early Warning have partnered to expand the availability of real-time capabilities in the U.S. The partnership will initially facilitate real-time bill payment and deposit capabilities for users of the NOW Network from Fiserv or the good funds network from Early Warning.
The number of mobile P2P users will grow rapidly, from 69 million in 2015 to 126 million by 2020. By 2019, it is expected that more than half of all mobile device owners will be using mobile P2P.
In today’s CardFlash News Que: AMERICAN EXPRESS (Unstaged); AFFINITY FCU (Kindness); OBERTHUR (EMV); and EUROPE (P2P).
In today’s CardFlash News Que: PAYPAL (brand); AMERICAN EXPRESS (school); MERCATOR (P2P); and TSYS (FPS).
Mozido has finalized the acquisition of digital commerce company, CorFire, with Mozido owning 80% of the company. Through this acquisition, Mozido increased its capabilities by incorporating CorFire’s technology platform and blue chip customer base including many of the largest mobile network operators (MNOs) around the world collectively serving more than 1.5B subscribers.
Seattle -based Remitly reported record growth as its customers are now sending more than $500 million annually using its mobile remittance service, the highest rated mobile app of its kind.
Austin-based Mozido is acquiring a majority of NettCash, a Zimbabwe mobile wallet company. The NettCash pre-paid electricity solution is being extended by integrating Mozido’s Mobile Transaction Platform services, including mobile bill pay, stored value account, and person-to-person payment services, to launch Zimbabwe’s first mobile wallet that includes prepaid utility services.
Western Union and MTN Group have teamed to launch a new mobile money transfer service in Rwanda and Ivory Coast. The new service allows MTN customers in both countries to receive a Western Union Money Transfer® transaction in their mobile wallet.
Mahindra Comviva has inked a strategic agreement with the Pole SCS for HCE (Host Card Emulation) solutions and development. Among the companies participating in the SCS cluster are Gemalto, ST Microelectronics, Inside Secure, Orange, Telecom Italia and a large number of innovative startups in these fields.
P2P (person-to-person lending) lending volumes are equivalent to only a small fraction of the lending undertaken by traditional financial institutions, but P2P lending platforms can be viewed as an interesting development but not a competitive threat to traditional lenders. However, the emergence of P2P lending is a valuable new source of financing in the post-2008 global economic and financial world and has the potential to close the credit gap.