Banks

Many banks are keen to expand their reach across the developing World, but are hampered by a branch based network that is usually based in major cities only and with a risk/revenue model that is still focused on those relative few within society that require and can pay for "standard banking". Mi-Pay provides a suite of mobile phone based offerings that enable the bank to extend its reach beyond its current branch based network. Banks can encompass new opportunities to provide basic financial services to many more people in a secure, yet cost effective manner through a combination of the consumers mobile phone and a widespread agent network.

Mi-Pay provides a range of bank branded services including the provision of fully compliant and cost effective eWallets or virtual bank accounts. In addition, we also provides a wide range of infrastructure services to support agent networks working for the bank supporting the deployment of financial services to non-banked consumers in largely cash-based economies. 

In the more mature banking markets, Mi-Pay provides a secure and easy to deploy suite of mobile phone based payment and banking services that have already been adopted by several major vendors of retail banking systems. These can be used to provide consumers with a range of mobile based payment services and other features including;

• Secure mobile banking including access to statements, payments and transfers and reporting suspicious transactions.
• Managing payment and credit cards including reviewing loyalty points/cashback details, reporting stolen cards etc.
• Using the mobile phone to authenticate access to secure web based banking services.

For more information about our mobile money services download a product brochure.