JMango and SPS come together to revolutionize peer to peer mobile payments
Jul 27, 2011
Melbourne, Australia – July 27, 2011 – International mobile solutions firm JMango and electronic payments solutions firm Strategic Payments Services (SPS) have just announced a partnership that is set to change the game for peer to peer mobile money transfers.
The joint JMango/SPS mobile money remittance solution will be PCI-DSS compliant and allow anyone to cash out mobile payments from their peers via ATM’s.
Senders simply need to register for an account with their bank and send payments to a mobile device over SMS, data or even through the new BUMP technology.
Once the funds have been sent, the recipient will receive a special transaction number and PIN in their mobile device that will allow them to withdraw the funds from an ATM, all without the need of a bank account or an ATM card. The recipient does not even need the app to be installed in their phone, as the codes can be pushed to their mobile device via SMS.
“While much has been touted about NFC payment solutions and traditional mobile banking solutions, all of these require you to have an account with the service and a bank account attached to it. This market-disrupting innovation will allow people to send money using their mobile to anyone, regardless if the recipient of the payment has a bank account or not”
says Ilan Oosting, Chief Executive Officer of JMango.
“This is a huge leap for mobile transfers and there is a lot of potential here; particularly in developing countries where people in rural areas may have limited access to traditional banking services”
he added.
David Campbell, Chief Technology Officer of SPS said:
“We are thrilled to be working with JMango on this ground-breaking service. We will be now be able to offer a contactless mobile payment solution that everyone can use, and with JMango’s technology, we can be sure that the service will be available to almost all mobile devices in the shortest amount of time. We see this as a fantastic extension of our existing offering and we are proud to be able to offer this type of service.”
The parties are planning on developing the new mobile solution using JMango’s proprietary mobile development platform, which allows mobile applications to be rapidly developed and deployed to a wide range of mobile devices and mobile operating systems. SPS Australia will be integrating their payment systems into the solution, allowing users instant access to payment services from their mobile device.
About JMango
JMango is an international mobile company that provides secure end to end mobile solutions in the fields of mobile money remittance, mobile banking and mobile commerce. The proprietary JMango platform is available under an enterprise license and simplifies mobile development making it more cost effective and easier to maintain.
For more information, please visit http://www.jmango.net.
JMango is an international mobile company that provides secure end to end mobile solutions in the fields of mobile money remittance, mobile banking and mobile commerce. The proprietary JMango platform is available under an enterprise license and simplifies mobile development making it more cost effective and easier to maintain.
For more information, please visit http://www.jmango.net.
About SPS Australia
Since its inception in 2006, SPS has established itself as a key player in the electronic payment processing services market in Australia, offering a modern, flexible multi-channel, payment processing platform for acquirers, issuers and merchants. SPS is a joint venture between MasterCard Asia/Pacific (Australia) Pty Limited (52.5%),Bendigo and Adelaide Bank Limited (47.5%)
Since its inception in 2006, SPS has established itself as a key player in the electronic payment processing services market in Australia, offering a modern, flexible multi-channel, payment processing platform for acquirers, issuers and merchants. SPS is a joint venture between MasterCard Asia/Pacific (Australia) Pty Limited (52.5%),Bendigo and Adelaide Bank Limited (47.5%)
For more information, please visit http://www.spsaustralia.com.au.
