Mobile money is the next big thing in finance models of cellular networks. It has been around for a while but not really implemented in this part of the world. We are short of Trust on these finance models. We suspect every other online model as a Trap to mince money. Mobilink has been around with Mobile Money Order (MMO) which helps sending and receiving money orders instantly.
Now, Western Union,a global leader in money-transfer services, has also became part of this network. WU (Western Union) has launched Digital Vendor Program which is intended 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.
“Establishing a strong mobile vendor program is a critical step in the delivery of our ‘Western Union Anywhere’ service proposition,” said Matt Dill, SVP and Head of Western Union Digital Ventures. “By collaborating on a global level with proven mobile platform providers, we believe we can simplify deployments for our mobile partners and introduce a more consistent Western Union experience for consumers.”
There are four active mobile finance platform providers in the world right now: South Africa-based Fundamo, India-based mChek, U.S.-based Sybase 365 and Singapore-based Utiba Pte.
Mobilink has deployed Utiba’s mCommerce-enabling products for mobile commerce features. “This alliance with Western Union fits our vision of empowering everyone to make mobile payments,” said Justin Ho – co-CEO, Utiba. “It combines Utiba’s proven payment technologies with Western Union’s unrivaled distribution and trusted brand.”
good fro overseas pakistani
We have heard that mobile banking has been a success in some African countries. And experts tell us that Pakistan has a suitable mix — like large rural population, high cellular teledensity, low income levels — for being an successful country to adopt mobile banking.
There are however a few other things those need to be taken into account. We’re not a very literate nation — especially when it comes to communicating in ‘farangi’ language. The large rural population — or for that matter even huge portion of urban population — would not be able to use commands and interface in English language. Someone will need to bring innovative solutions to overcome these hurdles.
When mobile telephony and text messages experienced a steep growth over the last few years, broadband didn’t pickup — at least up till recently — like in South Korea or China. Neither did data services became anywhere near to becoming mainstream like in Japan or many other Westren countries. 3G is yet to see face of the day.
UBL did try to provide mobile banking by offering UBL Orion some two years back. Their continuation shows that product is not doing bad. But, they had an existing infrastructure, expertise and brand recognition to build on.
Lets see how future unfolds for Mobilink.
very good news
It would fly, if commercial banks and post office participate and market to unbanked population. CRULP of FAST Lahore, Global owner of Urdu on computers, can revolutionlize mobile text messaging in Urdu.