Visa introduces mobile money hosted solution for financial institutions
CALIFORNIA: Visa Inc. has launched the world’s first bank-grade managed service for mobile money, allowing mobile operators and financial institutions to offer mobile financial services to consumer in an easy and cost effective way. The India’s mobile operator Aircel and Bank of Kigali and Urwego Opportunity Bank in Rwanda are the pilot users in this platform.
The Visa’s mobile money platform 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 enrolment, transactions processing, authorization, clearing and settlement. The new platform is hosted in Visa managed data centers and built on Fundamo’s technology, the mobile money technology acquired by Visa in 2011.
