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News

Mobile Financial Services Enabled by Gemalto SIM Security

Gemalto : 18 February, 2010  (Application Story)
SIM based mobile transaction security from Gemalto is at the heart of a mobile financial services solution being implemented by MTN Middle-East and North Africa
Gemalto has announced that MTN Middle-East and North Africa (MTN MENA) has selected its SIM-based security solution to launch mobile financial services in five countries. MTN MENA is part of the MTN Group, which serves over 100 million subscribers in Africa and the Middle East, including 30 million in the latter region. Gemalto worked in close cooperation with Fundamo, a leading mobile financial services provider, to jointly supply the complete solution for the MTN MobileMoney service.

The MTN MobileMoney service will enable MTN MENA to offer their subscribers a wide variety of financial services including money transfer, mobile payment and balance checking, mobile purchases, as well as the ability to buy airtime in real-time. MTN MobileMoney's user friendly interface makes it simple and convenient for subscribers to enjoy financial services featuring simple menus and multiple language options, including English and a number of local languages.

For several years, Gemalto and Fundamo have worked together to provide optimal SIM-based solutions for mobile financial applications. SIM-based technology guarantees the highest level of security available for transactions through end-to-end encryption and offers subscribers the freedom to use the service from any type of handset by simply swapping out the SIM card.

"Our cooperation with Gemalto and Fundamo has been an incredibly positive experience in terms of product quality, project management, and support in general," commented Jamal Ramadan, Vice President of MTN MENA. "We look forward to our continued work with Gemalto and Fundamo. Collaboratively, we will bring new levels of innovation, security and convenience to both mature and emerging markets."

"Gemalto is proud to work with MTN MENA for the first SIM-based mobile banking solution in the Middle-East and North Africa," added Philippe Vallée, Executive Vice President of the Telecommunications Business Unit at Gemalto. "Since our solution is compatible will all handsets, MTN MENA subscribers can immediately enjoy the convenience of transferring money when and where they want, with the security provided by the SIM card."

"Working closely with market leaders such as MTN and Gemalto reinforces Fundamo's position at the forefront of one of the world's fastest-growing and dynamic wireless markets - set to be worth USD 65 billion by 2014*," said Hannes van Rensburg, CEO of Fundamo. "Fundamo's platform is built to evolve with the needs of mobile subscribers to deliver increasingly compelling, tailored and differentiated mobile financial services as the market matures."
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