Mobetize Corp., a technology leader in mobile commerce payments solutions, today announced that it has signed contracts with Assist Wireless and Global Hawk Telecom providing each telecom operator’s customers with a convenient and low cost method to utilize alternative financial services (AFS) via their mobile devices.
Assist Wireless and Global Hawk Telecom customers can now fund their accounts with direct deposit paychecks, government checks or any other type of checks. Users can also fund their accounts using PayPal, bank ACH or credit/debit cards. Other mobile enabled services available to the telco’s customers include bill payment, prepaid airtime load or gifts globally and transferring money with a prepaid MasterCard or via traditional international money transfers virtually anywhere internationally.
“The Assist Wireless mobile money solution brings a low cost banking solution to customers who really need it most,” said Byron Young, CEO for Assist Wireless. “This solution clearly demonstrates Assist Wireless is on the leading edge of providing simple, reliable and flexible solutions to our customers. Using the power of Mobetize’s financial services platform, we can offer our customers mobile financial solutions they haven’t been able to access previously.”
“We are excited about our new partnerships with Assist Wireless and Global Hawk Telecom,” said Ajay Hans, CEO of Mobetize. “These contracts represent another vote of confidence in our ability to expand telecom operators’ traditional services and provide a technology and financial platform that delivers simple-to-use, secure and reliable mobile financial solutions to their rapidly growing wireless customer base.”
According to the Federal Deposit Insurance Corporation’s (FDIC) latest survey of Unbanked and Underbanked Households published in 2013, approximately 33% of the US population is not fully banked. These 80 million adults are predominantly using alternative financial services
(AFS) rather than traditional bank services and paid US$69 Billion in fees and interest in 2013 equivalent to $71 per month per adult.
Mobetize’s financial platform provides users with mobile-enabled financial services allowing them to save time and potentially reduce their monthly banking fees by over 75%.