BOSTON, Oct. 7 /PRNewswire/ -- MoreMagic Solutions, a global leader of mobile payment and mobile money transfer solutions, today announced that it has been selected by Western Union, a leader in global payment services, to participate in Western Union's Mobile Vendor Program for mobile wallet and mobile banking platforms.
MoreMagic Solutions provides products and services that enable mobile financial transactions between financial institutions, businesses and consumers worldwide through partnerships with mobile operators. MoreMagic offers a variety of solutions, including mobile banking, mobile commerce, bill payments and mobile money transfers.
Western Union and MoreMagic have an established relationship that began in 2009 that allows consumers in the U.S. to top up the airtime of mobile phone subscribers in over 100 countries worldwide at a participating Western Union Agent location in the United States.
The goal of Western Union's Mobile Vendor Program is to reduce integration costs and accelerate go-to-market activities for banks and mobile operators by creating standard technical deployments. Once a bank or mobile operator contracts with Western Union to activate the Western Union Mobile Money Transfer service, its consumers will be able to send and/or receive money through Western Union's global money transfer system, connected to more than 380,000 Agent locations in 200 countries and territories.
"In the last few years, mobile phone penetration in the developing world has surpassed everyone's expectations," says Pankaj Gulati, Chairman and CEO of MoreMagic Solutions. "This has created a tremendous opportunity to enable financial inclusion of these users with the availability of money transfer and associated payment solutions through the use of mobile phones. Western Union's tremendous experience and footprint, combined with MoreMagic Solutions' state-of-the-art technology and relationships in the mobile space, creates a tremendous platform for development and deployment of the next generation of mobile money services worldwide."
About MoreMagic Solutions
With deployments in more than 60 countries worldwide, MoreMagic Solutions offers transaction platforms for mobile operators, financial institutions, content providers, and distributors, enabling consumers to purchase goods and services on demand using a mobile phone, POS, or web. The MoreMagic Solutions high-throughput payment engine and pre-packaged applications enable revenue-generating services, including mobile recharge and mobile money transfer, both domestic and international; mobile wallets, mobile banking, bill payments and mobile commerce, with integration into diverse network environments, languages, and currencies. Through MoreMagic Solutions worldwide distribution, Mobile Network Operator branded services are available for out-of-country customers, enabling communications with relatives back home, and increased usage on mobile networks worldwide. MoreMagic Solutions was formed in 2000 and has its headquarters in Boston, Massachusetts, USA.
SOURCE MoreMagic Solutions, Inc.