Creova, a Mobile Money solutions developer, and its partner, Viamobile, a mobile money service provider in the Middle East region, are launching Simba, a mobile wallet solution (view press release). Simba is being launched in Lebanon by Fransabank Sal. Viamobile is building through Simba an ecosystem with a platform to offer mobile baking and mobile payment solutions.
Simba is a mobile wallet which offers person-to-person money transfer, mobile phone top-up with all the operators, internet top-up, parking fine payment and wedding list payment and payments to merchants.
“Mobile Money is driving a disruptive shift in customer interaction, thereby accelerating the replacement of cash and bringing new products and payment means to consumers and merchants. In light of these developments worldwide, Creova is delighted and thrilled to partner with one of the most renowned and reputable banks in Lebanon and the best partner we could have hoped for in the Lebanese market,” said Ramzi El-Fekih, CEO of Creova.
“The high penetration of mobile phones along with continuous advances in technology, have brought about an unprecedented opportunity to offer economical and truly innovative mobile payment and banking services. Through Simba®, Fransabank will be offering all its clients a service that combines efficiency, convenience, optimal security and confidence at the most economic terms and conditions,” said Nabil Kassar, Secretary General of Fransabank.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more