Mobile Money is one of the hottest topics on the financial scene today. To utilise a mobile phone for monetary transactions there are a number of possibilities available. Users in one country can transfer "Airtime" purchased locally with friends, family or colleagues around the world. To enable this there are a number of parties involved: The sender and receivers operator(s) needs to have the facility available, this is typically enabled using a "HUB". European Prepaid have a number of HUB suppliers that can facilitate the interconnection between the operators, the process is quite straightforward and the HUB calculates the exchange rate based on the margin share that the operators agree on. If it is purely Airtime Transfer then this would normally fall outside of the e-money legislation and can be implemented quite quickly. However if the facility is to offer true Mobile Money Transfer the landscape changes. To facilitate this there are legislative requirements as well as the added complexity of integrating an "M-Wallet", the M-Wallet is used to transmit a cash value. A HUB is still required however for the recipient to utilise this a cash out network is also required. European Prepaid have been working closely with numerous vendors of these technologies and can facilitate the design and launch of this product across Europe and beyond. |
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