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Sybase 365 Makes Mobile Money Move

David Murphy

Mobile messaging company Sybase 365 is partnering with global development organization Swisscontact, (the Swiss Foundation for Technical Cooperation), to provide sustainable development of Mobile Money Transfer (MMT) and Mobile Money for the Unbanked (MMU) services in emerging markets.
The Sybase 365 end-to-end mCommerce solution enables subscribers to buy, pay, bank and remit money via a mobile device. In partnership with Globe Telecom in the Philippines, and as a certified GSMA Mobile Money Vendor, Sybase 365 has already deployed MMU and micro finance solutions in emerging markets, including Egypt, Nigeria, Kenya, South Africa, Columbia and Chile, as well as MMT solutions in markets including the Philippines, the UAE, Malaysia and the United States.
In order to build a favourable environment for end-to-end MMT and MMU solutions, regulatory, technological, financial and educational challenges need to be resolved, says` Matthew Talbot, Vice President, mCommerce at Sybase 365. The cooperation between Sybase 365 and Swisscontact will help address these challenges by combining commercial with social interests and delivering innovative mCommerce solutions for millions of mobile users.
The number of mobile phone subscribers is expected to reach 5 billion by 2012, largely due to growth in emerging markets. In absolute terms, says Sybase 365, this is also the potential size for mobile money opportunities, as all mobile phones are capable of sending and receiving data via SMS. The company believes the uptake for mobile money services in emerging markets will be driven largely by domestic or cross-border person-to-person fund transfers, and notes that today, less than 15% of the population in emerging markets has access to bank accounts, while mobile phones provide access to basic financial services and micro finances for both the unbanked and the under-banked. One in 10 people around the world undertake remittances, and 70% of migrant workers remit funds on a regular basis.
With the mobile phone expected to be the single most transformative technology for development in emerging markets, mobile money services have the potential to integrate all consumers into the formal financial sector. said Ulrich Merkes, Global Topic Leader, Information & Communication Technology at Swisscontact. By promoting private economic and social development in Asia, the Middle East and Africa through advisory services, training and continuing education, Swisscontact aims to empower local communities, ultimately leading to sustainable economic development and growth.