Nowadays market demand is specially focused on the following concepts:
Ease of use
0 time consuming
100% availability (24/7)
Based on these, eCommerce appeared. However, eCommerce dependence on Internet is not convenient. To solve this issue,
the mCommerce(mobile Commerce) concept arose, incorporating
the main mobile technologies available,such as SMS, USSD and Web.Consequently,
mobile money solutions appeared.
MTS is a Mobile Money solution that enables mobile phones to
perform eMoney transactions from standard GSM handsets
by means of USSD, IVR, SMS or Web.
MTS brings a complete new way of managing money. MTS enables mobile subscribers to have
prepaid virtual wallets associated to their mobile accounts from
where they can pay goods and utilities, or send money to family and friends, gaining
security by reducing real money transactions. These are now replaced by
electronic transactions. MTShelps making the prepaid model more
profitable and at the same time gives subscribers a more convenient mobile services.
Subscribers can TopUP their eWallet accounts at authorized mobile agents (retailers)
or directly through a subscriber’s bank account or credit card(“cash in” operation).
The cash in process credits the subscriber account into the MTS platform and debits the retailer’s account, while the subscriber hand cashes
to the retailer. Subscribers can then manage their electronic funds directly
from their mobile phones or convert it to cash at authorized stores (“cash out” operation).
The solution holds interfaces with the operator’s Prepaid and Postpaid platforms, Billing
System, Bank and Credit Card Gateways, and external gateways for utilities
and goods payments. MAP links are used for USSD transactions and SMS transaction
USSD-based platform (SMS, IVR and Web interactions are also available)
Agents distribution chain and commissions configuration
Multiple e-Money services:
Security standards compliant (in-built fraud module);
Wester Union certified interface for international remittances;
API interface for allowing external entities to develop mobile money services;
Standard integration interfaces with financial entities.