The GSMA today announced new developments in its Mobile Money Transfer (MMT) program, an initiative that leverages mobile to facilitate access to money transfer services.
The GSMA has selected Belgacom International Carrier Services (Belgacom ICS) and its technology partner, eServGlobal, as a new remittance provider in the MMT program. To add further flexibility for operators, the GSMA has also chosen the RBS Group, a global bank, as a remittance partner and is working with them to finalize the offering.
“Since the launch of the MMT programme in 2007, we’ve made significant progress to catalyse the mobile money market,” said Bill Gajda, chief commercial officer for the GSMA. “We’ve delivered live commercial deployments of mobile remittances and established five active corridors with Western Union, we’ve increased the number of markets served from three to 54, and we’ve moved the market from one wholesale remittance provider in 2007 to 12 providers today. In addition, we've established price points that enable mobile operators to offer affordable services to consumers, which will make remittances much more accessible to a larger addressable market. The partnerships we’re announcing today will serve to further accelerate the availability of money transfer and other financial services to a wider section of the global community.”
The GSMA and its MMT partners have established a commercial and technical framework that enables mobile operators to deploy services that allow consumers to send and receive low-denomination, high frequency money transfers using their mobile phones. With the alliances with Western Union, Belgacom ICS and the RBS Group, the MMT program offers a variety of solutions to mobile operators.
