Mobile operators, banks and other service businesses can now offer international top-up and money transfer services to their end customers as paybox and TransferTo partner to integrate their portfolio of top-up and remittance services via mobile, online and POS channels. The partnership combines paybox's mobile top-up and mobile money transfer solutions with TransferTo's worldwide access to mobile operators' prepaid top-up systems.
paybox, the trendsetting company for mobile payment enterprise solutions headquartered in Germany, and Singapore-based TransferTo, an international telecommunications company specialized in servicing communications requirements of migrants, announce their partnership. They team strategically to enable end customers of mobile operators, banks, and other service businesses to send money to their friends and relatives living abroad and recharge their mobile prepaid accounts simply via SMS, the Internet or point of sales.
Around the world, there are 200 million people working and living in a country other than their home one. These migrants are remitting back home over $300 billion every year. Out of the 3.1 billion mobile subscribers worldwide, 2 billion are prepaid. They perform 49 billion top up a year (United Nations, June 2006). This market has been mostly overlooked and underserved by the traditional players.
TransferTo provides global airtime transfer services specially designed for migrant subscribers: foreign workers, travelers and expatriates. The service enables prepaid customers to send back home small amount of values or to reload their own account while roaming. International credit transfers can be as low as one dollar and are done instantly via SMS. paybox with its Mobiliser portfolio addresses mobile Commerce, mobile top-up and mobile Money related opportunities for mobile operators and financial service providers in both, developed as well as emerging markets.
Joining forces, paybox and TransferTo offer international top-up and money transfer bringing together mobile operators from all over the world in a revolutionary and profitable partnership. paybox's innovative savings and payment systems can convert any mobile phone to a micro bank. Customers can open their accounts on the streets, remotely save money into their accounts, buy top-up cards, pay utility bills, send money to friends and relatives, withdraw cash at agents' locations or ATMs and get access to credit and make investments. With its international network of mobile operators, TransferTo brings an innovative solution truly relevant to foreign communities. It complements their existing regular remittance and opens a new market for small value transfers. In particular it solves the problem of sending regular very small amounts, on special occasions (birthdays, festival...) and sending to the nontraditional recipient of the remittance.
"Our partnership with TransferTo provides further functionality to all our customer solutions. Through this service, developed countries can tap the migrants market and offer a solution specially tailored for them", says Eckhard Ortwein, paybox CEO.
paybox and TransferTo have already launched a joint service for a leading operator in Malaysia, to enable Indonesian workers living in Malaysia, to send airtime to their relatives at home directly by sending a SMS and paying via their Mobile Money service.
"Like no other solution, TransferTo is addressing a growing need to offer appropriate communication solutions to an underserved segment, this poses a compelling opportunity for service providers," states Eric Barbier, Managing Director, TransferTo. "Through our partnership with paybox, we extend our distribution network and complement our service with money transfer services."
paybox and TransferTo will be present at the GITEX in Dubai from 19-23 October and TransferTo will exhibit at AfricaCom in Cape Town, South Africa from 18-19 November.
About paybox
paybox solutions AG ("paybox") is the trendsetting company for mobile payment enterprise solutions. Founded in 1999, paybox was the first to launch mass-marketable mobile payment solutions in five European markets. paybox set up operator-led, national mobile Payment standards in Germany and Austria. In 2007, paybox was awarded the Int'l Stevie Award for Best Product in Telecommunications. Recognised for having the broadest mobile Commerce offering worldwide, paybox mobile payment enterprise solutions are deployed across Europe, North and South America, North Africa, the Middle East and Asia. paybox is an official GSMA Mobile Money Vendor and a G-Cash Remittance Partner. For more information on paybox, please visit www.paybox.net
