YellowPepper Meets Growing Demand for Mobile Financial Solutions in Latin America

MIAMI, March 9 /PRNewswire/ -- At a time when more than 80% of Latin Americans have access to cellular phones, mobile financial technology has quickly emerged as critical to the development of Latin America. YellowPepper, a leading provider of mobile financial services in Latin America, delivers capabilities on which financial institutions, retailers and consumers–both banked and unbanked—rely, and adoption of these services has grown dramatically. In 2009 alone, YellowPepper supported 47 million transactions, and is well on track to surpass this in 2010.  

YellowPepper has established relationships with the region's top financial institutions including Banco Pichincha in Ecuador; Banco AV Villas, Banco De Bogota, Banco De Occidente and Banco Popular in Colombia; Banco de Credito in Peru, Banco G&T Continental in Guatemala; Global Bank in Panama; and Banco Bisa in Bolivia. These banks, just a sampling of YellowPepper's financial clients, have opened up the opportunity for Latin Americans to gain access to their financial accounts through mobile phones.

"The high concentration of mobile users in Latin America, and the increased desire for innovation within the financial marketplace, has presented an ideal opportunity for us to grow and meet consumer needs," states YellowPepper Founder and President Serge Elkiner. "We've partnered with prominent organizations including Western Union, Fundamo, Credibanco, top regional and national banks, in addition to mobile network operators, in order to reach Latin Americans when and where they need funds most."

With more than 1.5 million users, YellowPepper has built an infrastructure that enables secure, convenient and easily accessible financial services, such as money transfers, bill payments, balance inquiries, pay-as-you go mobile transactions and pre-paid mobile phone replenishment and in the past year have further extended the capabilities of the service with an innovative mobile wallet offering built on the enterprise platform from the industry-leading mobile financial services supplier Fundamo.

Currently, more than 30 corporations within the retail, insurance, food distribution, importing, entertainment, and pharmaceutical industries are using YellowPepper mobile commerce solutions.

YellowPepper's services are available in Ecuador, Colombia, Bolivia, Guatemala, Peru, and Panama. For more information, log on to www.yellowpepper.com.

About YellowPepper

YellowPepper Mobile Financial Solutions provides products and services that enable mobile financial transactions between financial institutions (banks), businesses, and consumers in Latin America. With 1.5 million users, YellowPepper operates in Ecuador, Colombia, Bolivia, Guatemala, Peru, and Panama as a service provider for more than 50 financial and non-financial institutions. For more information, log on to www.yellowpepper.com.

SOURCE YellowPepper