Visa Launches Mobile Money Managed Service
Visa announced the launch of a new plug-and-play mobile money platform that will make it easy and cost-efficient for financial institutions and mobile operators to offer mobile financial services to consumers.
The global platform is the world’s first bank-grade managed service for mobile money – meaning it allows Visa to host and fully manage all aspects of a mobile money program on behalf of the provider, from user interface design to consumer enrollment, transactions processing, authorization, clearing and settlement. The new service can enable domestic-only or globally interoperable mobile money services.
The new platform is built on Fundamo’s technology, the mobile money technology acquired by Visa in 2011.