The number of mobile phone subscribers is growing exponentially with an expected penetration of 101 million by 2015. With the arrival of new technologies and services offered through this channel people are using this device for a lot, more than before. If we focus on mobile transactions, reports show that by 2012 domestic money transfers are expected to be used by over 500 million mobile phone subscribers. Global mobile money transfer services are a growing business and an enormous opportunity for service providers. The service adoption rate meets a great evolution thanks to the development of the security level, send and receive options, cost reduction and transactions terms. MiT has designed a Mobile Financial Services platform that provides secure Mobile Money Transfer solutions. This platform has been conceived to be integrated into existing mobile network and banking infrastructures, allowing mobile operators and financial institutions to offer a value added service through their existing infrastructure. MiT’s Mobile Banking provides a competitive solution that addresses the flaws of current domestic and international remittance solutions. It also gives access to:
> Local peer-to-peer Transfers
> International Remittances (Multi-currency)
It allows secure service to transfer a balance from one customer’s mobile wallet, bank account, credit card to another mobile, wallet, bank account or agent (cash or ATM). MiT Mobile Money Transfer services make international and domestic remittance more affordable and convenient by using existing distribution infrastructure and benefiting of economies of scale.