Mobile payment joint venture in Mexico, Transfer
America Movil, Banamex and Banco Inbursa have selected Gemalto as the technology provider for their mobile payment joint venture in Mexico, Transfer (view press release). The new service turns the mobile phone into a payment device for making transactions such as transfers, air-time purchasing and cash withdrawal, in real time via SMS. Through the partnership Gemalto is responsible for developing the Transfer transactional platform and providing the necessary operational support. The solution will be based on Gemalto’s LinqU’s mobile payment platform which is compliant with local finance and telecommunication standards and enables the use of mobile phones for payments and banking services through various channels. Account management capabilities are also provided through self-service channels such as interactive voice response and websites.
“We are proud to lead this technological innovation effort, creating simple and convenient financial solutions for the population needs, particularly the unbanked… We are aware of the potential this platform has to transform the banking operation, initially in Mexico, and expanding it to Latin America,” said Manuel Medina Mora, chairman of the executive committee of Banco Nacional de Mexico and Grupo Financiero Banamex.
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