Pages

Adsense



Featured post

Re: CODE OF CONDUCT; (ATM--222)

  Attention: Beneficiary,   This is to officially inform you that we have verified your inheritance file and found out ...

Blog Archive

09/10/2013

UK firm develops mobile payments solution for Africa content.

A UK firm, Bango, is set to improve navigation through the complex mobile payment market in Sub-Saharan Africa.
Bango, based in Cambridge in the UK and Africa-based MMIT have joined forces to launch M- Iflọ, a safe payment solution that enables online transactions for digital content.
Bango CEO Ray Anderson said M-Iflọ was tailored to the needs of industry leaders in mobile content.
Anderson said: “There’s a smartphone boom in Africa and a frustrated demand for digital content. App stores and other merchants have been waiting for the reassurance of M-Iflọ, which limits the risk of doing
business in Africa and has been designed to suit the ‘cash up front’ instincts of the African market.”
MMIT is an African-based mobile payment software developer with a mission to revolutionise mobile money payment and transfers in Africa. The jointly developed M-Iflọ solution is a billing mechanism and verification portal for digital wallets, specifically designed to fit the cash-exchange culture of Africa.
Anderson said the solution offers reliability and security to app stores and digital merchants, providing millions of people in Africa with the ability to make mobile payments for apps, games and other smartphone content.
Starting in key Sub-Saharan markets, M-Iflọ will initially be available in Kenya and Nigeria, quickly followed by Uganda, Tanzania, and Zambia. It is already integrated with some of the major mobile wallet providers in Africa, including Mobipay in Kenya and Stanbic IBTC Mobile Money in Nigeria, with further rollouts in process.
The technology is a payment verification portal that is a secure conduit for mobile content providers to reach the African market – acting as an intermediary between mobile merchants and mobile wallet providers.
M-Iflọ allows consumers with a mobile wallet account in Africa to pick their wallet provider as a payment option at the checkout page of a content site. The wallet holder enters their mobile wallet number for account verification and obtains the content.

Anderson said M-Iflọ minimised risk and allowed merchants to be paid up front. The result is that app stores and other merchants bypass traditional issues such as, payments being held up in another country due to bureaucracy, fraud or changes in regulation.
Meanwhile African consumers can look forward to full participation in the mobile commerce explosion, he said.

No comments:

Post a Comment