Emida Deploys Mobile Wallet Service Worldwide
FOOTHILL RANCH, California, December 15, 2010 (MarketWire) – Emida Technologies, a global leader in prepaid solutions, announces that its Cash and Transact™ (CAT™) Mobile Wallet platform has been integrated with its industry leading Debisys direct top-up platform. This means that the most difficult element of any m-wallet system, the cash-in network, is solved for all Emida customers in the 37 countries where Emida systems are deployed. CAT™ is specifically designed for developing markets where customers do not have bank accounts, credit or debit cards.
CAT™ Mobile Wallet is a simple-to-use application for loading cash, or e-value, to any phone. Customers can then send money to any other phone, pay bills, pay for goods and services, get cash out, buy content like ring tones and airtime, play the lottery, and even shop on the internet using the cash on the phone.
Dennis Andrews, Emida’s CEO, in announcing the integration of CAT™ Mobile Wallet to Debisys Top-Up, noted that, “The difficult part of any mobile wallet solution is the distribution. For the past 12 years, Emida has been managing complex hierarchal airtime distribution networks with 5 and 6 commission levels for distribution of airtime.”
He goes on to say, “Another difficult aspect of mobile wallet is creating the network of shops and retail locations where consumers can register to use the services in a country, load value to the phone, and give customers access to the cash on their phone, day or night, 24/7. Emida has been doing this with top-up for years.”
CAT™ Mobile Wallet is an enterprise grade software platform suitable for large mobile operator networks and financial services providers. CAT™ uses some of the highest levels of encryption available, and allows service providers to comply with Know Your Customer [KYC] and Anti Money Laundering [AML] requirements of the regulators. The reporting features of CAT™ enable service providers and regulators to monitor activity in real time, and ensure compliance and liquidity issues can be addressed easily.
“Our first CAT™ Mobile Wallet deployments are in Nigeria, where two of our clients have been awarded mobile wallet licenses last week,” said Gregory Lee, General Manager of Emida’s CAT™ Mobile Wallet unit. “The integration of Debisys and CAT™ Mobile Wallet will ensure that our clients will be able to maximize their revenue opportunities, fully comply with regulatory requirements, and offer a full suite of settlement and reporting tools for their mobile wallet services.”
Emida is a leader in the global prepayment and value transfer market, operating in 37 countries including the U.S., Mexico, 21 countries in the Caribbean, Panama, El Salvador, Belize, Papua New Guinea and 7 other countries in the South Pacific, as well as the United Arab Emirates and two markets in Africa. We support a network of more than 46,000 retail points with an annual dollar payment volume in excess of $1.4B, processing more than 180 million annual payment transactions.
Our network technology enables the domestic and international distribution and value transfer of many types of prepaid products and payment services. Our strategy is to build profitable, robust distribution networks for many prepaid products in targeted operating geographies, and to introduce unique cross border value products between regions. Our payment processing platform provides robust revenue solutions for distributors, ISOs, retailers, carriers and service providers alike.
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