Mobile operators can meet growing customer demands for accessible financial services using a proven, secure mobile money platform, without having to wrestle regulatory red tape or carry heavy financial risks, the companies claimed.
Ideal for operators seeking to take advantage of the expanding mobile money market in Africa and other parts of the southern hemisphere, the service delivers enhanced offerings such as domestic money transfer; international money transfer; and even the ability to allow friends and family to perform international top ups for overseas relatives’ prepaid phones.
The partnership allows Mi-Pay's mobile money payment solution to be integrated into Small World’s money transfer hub, which is already servicing a number of European banks and together, creates a ready made mobile money highway. It offers mobile operators all the necessary regulatory, compliance and foreign exchange services to deliver immediate money transfer services globally and give their customers access to Europe’s third largest distribution network for sending money transfers.
At the same time, using its 60 branches and over 1,500 agents, Small World will use the Mi-Pay Global top up service hub to offer international prepay phone top up to over 30 country corridors.
Mi-Pay is a founding member of the GSMA’s Mobile Money Vendor programme and is active participant in the Mobile Money for the Unbanked programme. Both Small World and Mi-Pay are advisory members of the International Association of Money Transfer Associations.