Tuesday, May 27, 2008

Mi Pay signs mobile money ecosystem contract with African operator

Mi Pay, a mobile payments provider and an East African operator have signed a contract to provide a mobile money ecosystem to the operator’s subscribers to gain from international remittance services and supporting a network of agents to support domestic payments made by mobile.
Mi Pay’s Streetvendor solution lets African mobile operators to empower local agents in Africa to buy or sell airtime to subscribers which in turn helps the entrepreneurial networks to grow. The solution allows agents to complete transactions from a mobile handset directly without the need for extra terminals. The direct channel top up service allows subscribers in Africa to gain airtime via their handsets which removes the need for physical vouchers.

This move is surely going to benefit those who have family members or friends living abroad and would also help the third parties to purchase prepaid airtime to be sent to subscribers in Africa.

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