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Mobile money service to serve unbanked in Mexico

Dawinderpal Sahota

Tuesday, April 24, 2012 - 09:18

Latin American operator group América Móvil is launching a mobile money service in Mexico, aimed to serve the nation’s underbanked population.

Latin American operator group América Móvil is launching a mobile money service in Mexico, aimed to serve the nation’s underbanked population. The service, called Transfer, will be launched by a joint venture between the operator and its banking partners: Citibank´s Mexican unit Banamex and local bank Banco Inbursa.

The firms said that their aim is to transform the mobile phone into a payment instrument for carrying out transfers, cash withdrawals and air time purchasing, in real time, 24 hours a day, through SMS messaging.  Users will also be able to manage their accounts through other self-service channels, such as interactive voice response and web sites.

Gemalto´s LinqUs mobile payment platform will underpin Transfer and the firm said it will also be responsible for the service development, support and operation of the service.


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Tags: Mobile Money Transfer, Americas, Citibank, Mobile Money, Air Time Top Up, Mexico, America Movil, Banco Inbursa

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