WALTHAM, Mass. Feb. 1, 2011
Western Union has certified MoreMagic’s mobile banking and payments solution m:Wallet, which enables mobile customers to receive funds directly into their mobile wallet. Those funds can then be used to pay for utilities, goods and services without the need for a bank account. m:Wallet also enables mobile operators to maximise the revenue potential of the mobile money system, while increasing customer loyalty through a comprehensive mobile money offering and significantly reducing churn.
By certifying MoreMagic, Western Union aims to reduce integration costs and accelerate go-to-market activities for banks and mobile operators by creating standard technical deployments. Once a bank or mobile operator using the MoreMagic m:Wallet contracts with Western Union to activate the Western Union® Mobile Money Transfer service, its consumers will be integrated with Western Union’s core transaction processing system. This system supports Western Union’s global network of more than 386,000 Agent locations in over 200 countries and territories.
MoreMagic’s m:Wallet enables a broad portfolio of services that simplify the exchange and management of funds among consumers, merchants, content providers, and clearing channels. Consumers are able to make secure electronic payments in real time for mobile applications such as electronic top up, bill payment, micro-lending, salary payments, ticketing, parking, and vending.
About MoreMagic Solutions
With deployments in more than 60 countries worldwide, MoreMagic Solutions offers transaction platforms for mobile operators, financial institutions, content providers, and distributors, enabling consumers to purchase goods and services on demand using a mobile phone, POS, or web. The MoreMagic Solutions high-throughput mobile commerce and services platform (m:Broker™) and pre-packaged applications in the MagicSuite™ portfolio enable revenue-generating services, including mobile recharge (m:TopUp) and mobile money transfer (m:Wallet), both domestic and international; mobile banking; bill payment; and mobile commerce; with integration into diverse network environments, languages, and currencies. Through MoreMagic Solutions’ worldwide distribution network connected to the MoreMagic Global Financial Services Hub (MagicHub), mobile operator branded services are available for out-of-country customers, enabling communications with relatives back home, and increased usage on mobile networks worldwide.
SOURCE MoreMagic Solutions, Inc.