Mobile wallet service unveiled by Mobilis

The service is point-of-sale fingerprint verification for international money transfers to mobile wallets, and NFC mobile payments that support any mobile phone. Through this service, a mobile operator can receive international money transfers directly into their subscribers’ mobile wallets through point-of-sale devices located in other countries.

“Annually hundreds of billions of dollars are sent home by family living and working abroad. Communities in emerging markets are reliant on these incoming funds. The level of convenience and security provided by our point-of-sale solution for international remittances will have a big impact on the money transfer market,” Chris Jones, CEO of Mobilis, said.

To send money, a customer goes to a partnering retail outlet in one country to send to another person’s mobile wallet in another country. The retailer uses a supplied point-of-sale payment device with a biometric fingerprint reader and Mobilis’ software to verify the customers fingerprint in compliance with Know Your Cusstomer (KYC) purposes.

The retailer afterwards enters the receiving country, currency, mobile number and amount to send into the device, which communicates with Mobilis’ central server and its international remittance partners, and reports back with the best foreign exchange deal.

The customer then presents the cash, and the money is received on the receiver’s mobile wallet less than five seconds later.

Mobilis’ mobile wallets services for Near Field Communication (NFC) are deployed by mobile operators and support any mobile phone. To use the service, he mobile operator simply affixes a NFC chip to their mobile phone and registers the subscriber free of charge.

Currently, the mobile wallets solutions are currently being rolled out in Africa, the Middle East and across Asia-Pacific.