MoreMagic said that the jointly developed mobile payment solution enables the delivery of a wide range of services including money transfer, mobile banking, mobile payments and near field communication (NFC) proximity payments.
The joint mobile payment solution interconnects consumers, mobile operators, financial institutions, retailers, agents and other members of the mobile commerce and financial services value chain to enable seamless monetary transactions.
Nokia Siemens Networks head of charging, billing and care Rick Centeno said that the combination of MoreMagic solutions with its integrated subscriber data management, identity management and unified charging provides a comprehensive set of mobile payment solutions in this innovative market segment.
MoreMagic CEO and chairman Pankaj Gulati said that the mobile commerce and financial services present some of the most exciting opportunities available today which are totally revolutionizing the way people interact with cash and manage their finances.
LPTIC (Libya Post, Telecommunications and Information Technology Holding Company) is trialing mobile payment solutions in close collaboration with Al Madar and Libyana, the two mobile operators in Libya.
LPTIC plans to extend mobile payments as a service to all mobile operators across Libya as an enhancement to its operations. The project which is set to run over a period of four months, will provide customers with access to basic financial services which was previously available for only a small percentage of the population and access to NFC proximity payments for purchasing anywhere at anytime.
