Fundamo has announced its certification by Western Union as a key partner in the Mobile Vendor Program. The program is designed to extend the reach and accessibility of Western Union Money Transfer services to mobile finance initiatives in Latin America, Africa, the Middle East and Asia.
Fundamo can now offer Western Union Services in Mobile Wallet and Mobile Banking Platforms within the Digital Vendor Program. Fundamo is one of the first two companies to be certified, enabling clients to facilitate Western Union mobile money transfers from the US, the UK, the UAE, Singapore and Hong Kong (and other countries) directly to subscribers with mobile wallets on the Fundamo platform.
Once a bank or mobile operator contracts with Western Union to activate the MMT service, its consumers will be able to send and/or receive money through Western Union’s money transfer system. MMT is currently available through select Agent locations as Western Union embarks on a program to extend availability to more locations during 2010.
‘The mobile financial services industry is experiencing terrific growth, and we are delighted that major brands such as Western Union are realising the potential of this market,’ says Hannes van Rensburg, CEO, Fundamo. ‘Certification programs will further catalyse the market by enabling seamless interaction of all elements required for a robust mobile financial services ecosystem.’
Both companies worked on a pilot programme under the auspices of the GSMA in Q2 2008. The initiative allowed early mobile financial service concepts to be sold and trialled by the GSMA’s operator members. This announcement marks the start of the next phase where these solutions can now be deployed commercially through licensed vendors.
