Mobile Wallet
The world over, mobile phones are used as powerful tools to provide financial access to previously unbanked or under-banked consumers. Monitise’s Mobile Wallet is a virtual account, which enables our customers – mobile networks, banks and other consumer brands – to offer their consumers the ability to deposit and withdraw funds, transfer money and make payments using their mobile device. It can function as an independent virtual account or be used to complement an existing bank or prepaid card account.
Monitise believe that Mobile Wallet has the potential to be the catalyst for positive change and economic growth in developing countries by empowering unbanked consumers.
Comprehensive services suite
Mobile Wallet offers a wide range of mobile-centric financial services and payments. In addition to standard Mobile Wallet capabilities such as deposit (cash-in), withdraw (cash-out) and funds transfer to family and friends (person to person payments), Monitise’s product enables a range of additional services such as merchant payments, bill payments, salary disbursements and international remittances.
Additionally, a set of comprehensive alert features (e.g. low balance alert), full-scale support for agent networks and KYC management are built into the product.
Comes-as-standard
Monitise specialise in managing the complexity of mobilising products and services. Inherent in Monitise’s unique, market leading product portfolio are the following benefits:
Bank grade security: Monitise leverages its extensive financial services experience to ensure Mobile Wallet meets or exceeds industry standards for security and customer authentication.
Device coverage: Mobile Wallet is designed with the lowest barrier of entry to ensure that all devices using SMS, SIM Toolkit (operator dependant) or USSD will be supported. Additionally, Mobile Wallet can be deployed as a mobile app to enhance the experience further.
Configurability: Inbuilt flexibility ensures Mobile Wallet can be configured to reflect your specific requirements, including your business model, segmentation approach, branding and available services.
Stability and scalability: Monitise’s approach to capacity planning ensures availability targets are maintained as your service grows. Monitise’s products are currently supporting millions of transactions every month with service availability exceeding 99.8%.
Integration & third party connectivity: Monitise’s Mobile Wallet comes equipped to provide a wide range of services with cost-effective and flexible connectivity options:
- Integration to mobile network operators to enable services and purchase airtime
- Connections to retailers, billers and utilities
- Direct connections into trust bank core systems or web services
- Connections to enabling platforms such as ATM networks or other processing platforms
- Connection to agent management networks and systems
Customer management: Mobile Wallet is available with a range of registration options, customer management, billing, KYC and reporting tools.
Agent management: Monitise’s Mobile Wallet comes equipped with a flexible agent management capability with the ability to register and manage agents at different levels.
