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Mobilis adds NFC and biometric authentication to mobile wallet remittance system

Mobilis

Thursday, May 31, 2012 - 09:06

Mobilis Networks Limited today announced its software services to enable what Mobilis believes to be world firsts for mobile wallets: point-of-sale fingerprint verification for international money transfers to mobile wallets and NFC mobile payments that support any mobile phone.

By deploying Mobilis' mobile wallet services for international remittances, a mobile operator can receive international money transfers directly into their subscribers' mobile wallets through point-of-sale devices located in other countries. For example:

A customer enters a partnering retail outlet in one country to transfer cash into the mobile wallet of someone in another country;
The shopkeeper uses a supplied point-of-sale payment device with a biometric fingerprint reader and Mobilis' software;
The customer's fingerprint is verified for KYC (Know Your Customer) purposes. The shopkeeper then enters the receiving country, currency, mobile number and amount to send;
The device communicates with Mobilis' central server and its international remittance partners, and reports back with the best foreign exchange deal;
The customer hands over cash, the transaction is confirmed, and the correct amount is immediately transferred into the receiver's mobile wallet.
Read the full story by clicking the link below
http://www.finextra.com/News/Announcement.aspx?pressreleaseid=44820
 
Tags: NFC, Global, Mobile Wallet, Mobile Money Transfers, Remittance, POS, Biometric Authentication, Mobilis

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