Vesta Corporation is launching the Vesta PayMobile wallet, a smartphone application that allows mobile operators to offer their prepaid customers core financial services (view press release). The app is powered by partnerships with Xoom, PreCash and Prepaid.com, and builds on Vesta’s account reload platform to include money transfer, bill payment and international top-up services.
Guillermo Escofet, senior analyst at research firm Informa Telecoms & Media said: “The unbanked and under-banked opportunity in developed markets is often overlooked. Mobile-wallet efforts in this market have so far been largely focused on isolated money transfer corridors between specific mobile networks and specific countries. Likewise, in the postpaid-dominated US mobile market, prepaid subscribers are a sector often neglected by US mobile operators.”
The wallet is integrated with Vesta’s payments-as-a-services platform, so MNO partners can brand and launch a mobile wallet that can be integrated into their billing, accounting and customer care systems.
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