Voice Commerce and Alcatel-Lucent Partner for Mobile Money Offering

Financial services group Voice Commerce has struck a deal with Alcatel-Lucent to provide payment and mobile money services to mobile operators, using Alcatel-Lucents Mobile Wallet Service (MWS). The move enables mobile service providers to deliver secure, fully-regulated end-to-end financial services.

Voice Commerce, which recently launched its Cashflows services, operates various financial services under licences, covering the provision of payments and e-money services, and is a member of both Visa EU and MasterCard.

The company says the MWS solution is particularly well suited to mobile service providers in emerging markets, where the mobile phone is used to deliver financial services, as it will enable them to meet the needs of those customers with a broader range of services, such as mobile remittances and payments. The MWS can also be deployed in developed markets, where consumers are interested in using the mobile phone for payments, coupons and loyalty programs.

The market for electronic mobile wallet services is growing fast and Gartner Group predicts it could reach $245bn (£155bn) in value by 2014. Edgar, Dunn and Company predicts that mobile wallet users will reach 1.4 billion by 2015.

“Our goal is to provide a complete mobile money eco-system for the mobile operator,” says Alcatel-Lucent Mobile Wallet Service general manager, Anthony Belpaire. “For fast adoption of services across existing point-of-sale terminals, our customers need compliance with e-money licensing schemes and interoperability with global payment networks. Voice Commerce provides a unique market accelerator to make MWS a complete solution for mobile operators.”