AndhraNews.net
Home » Business News » 2011 » October » October 27, 2011

Telepin Software Powers Mobile Financial Services in Papua New Guinea


October 27, 2011 - Ottawa, Canada

Telepin Software, a leading provider of mobile money transaction platforms, today announced that it has been selected to power Digicel Group's recently- launched cellmoni, a unique mobile money service which offers Papua New Guineans (PNG) a range of financial services including the ability to transfer money to friends and family anywhere in the country. Also powered by Telepin and hosted on the Digicel network are Post PNG's MobileSMK and MiCash from Nationwide Microbank. Telepin's Cayman Transaction platform is used by all three providers for mobile financial services (MFS) offerings. The service is regulated by the Central Bank of PNG and has been developed in partnership with Pacific Financial Inclusion Programme (PFIP) with a view to promoting financial inclusion within PNG and the region.

"Papua New Guinea presents interesting challenges and opportunities for a mobile money system. There appears to be a great demand for a system that enhances cash safety, which would include mobile phone transfers and a means to transact, store, and accumulate value for later use," said Vincent Kadar, CEO of Telepin Software. "Digicel, Post PNG and Nationwide Microbank are responding to these challenges by delivering best-in-class mobile money solutions that extend value to PNG mobile subscribers, merchant networks, and ecosystem partners."

Telepin MFS products provide mobile operators the ability to deliver robust financial services offering to their subscriber and merchant customers. Telepin's software plugs seamlessly into existing mobile infrastructure, leveraging the investments already made in charging systems, replenishment systems, and value added service delivery platforms.

Transforming phones into wallets - three different ways

cellmoni transforms Digicel mobile phones into electronic wallets allowing customers to deposit or withdraw cash using their mobiles at a nationwide network of agents, receive salary payments, pay bills and transfer money to any Digicel mobile in the country.

"Digicel Mobile Money services, powered by Telepin, have been successfully launched in Samoa, Tonga, Fiji, and Vanuatu," said Annie Smith, Regional Head of Mobile Financial Services, Digicel Pacific. "We believe cellmoni will have an even bigger impact here in PNG where security risks establish a clear need for a more secure financial solution for the more than 4.5 million Papua New Guineans with Digicel mobile coverage living mostly in rural areas."

Nationwide Microbank Limited is the first licensed financial institution in Papua New Guinea to introduce mobile money. MiCash builds on the concept and provides a lot more than SMS banking. With MiCash a transaction can include anything from transferring funds to a friend or "wantok's" Mobile phone, to depositing and withdrawing cash from an agent network. MiCash also enables the account holder to check balances, purchase airtime top up, buy goods and services and pay bills.

"MiCash is unique as it is both a bank account and mobile wallet. It provides secure access to all the services one would expect from a Bank. As 85 percent of Papua New Guineans do not have access to financial services; MiCash is an initiative of Nationwide Microbank to "bank the unbanked," said Tony Westaway Managing Director of Nationwide Microbank.

Post PNG has evolved its domestic money transfer service called Salim Moni Kwik (SMK) or "send money quickly", from a fax service to the mobile phone. Post PNG will extend, in the next few months, mobileSMK to include international money transfer in cooperation with Western Union.

"mobileSMK has taken the paper out of sending money and gone to the air," said Post PNG Project Manager, Brendan Thomas. "Our focus is to get to every part of PNG, including the rural areas and the grassroots, not just the urban centres and mine sites. We believe that our new mobile financial service, mobileSMK, is achieving this objective. Already many mobileSMK customers are receiving their loans on to their mobileSMK account from major financial institutions."

Telepin MFS solutions enable mobile operators to:



-- Differentiate and extend communications networks to cooperate with
financial community,


-- Meet subscribers' need for convenience and desire to leverage mobile
devices for additional capabilities,


-- Address merchants' desire to incorporate mobile commerce as a payment
mechanism, and;


-- Mitigate concerns for security, privacy, and reliability.



Telepin Software and Digicel will be showcasing cellmoni at Mobile Money Transfer Global in Dubai October 31 to November 3.

About Telepin Software

Telepin Software is a leading provider of mobile transaction platforms, delivering mobile operators the most efficient and cost-effective way to control their distribution network, maximize revenues from mobile financial services, and drive innovative mobile financial applications. For more information, visit: www.telepin.com or www.mobilemoneytransactions.com.

Contacts:
Heather McCulligh
613-797-8949
heather.mcculligh@telepin.com

MarketWire

Comment on this story

Share