MoreMagic Certified by Western Union as a Mobile Money Transfer VendorBy Moremagic Solutions Inc., PRNE
Monday, January 31, 2011
WALTHAM, Massachusetts, February 1, 2011 - MoreMagic Solutions, a leading global mobile commerce and financial
services solutions provider, today announced that it has completed the
certification process in the Western Union Mobile Vendor Program.
Consequently, mobile operators who partner with MoreMagic and Western Union
will be able to offer their subscribers the option to send or receive money
through the global Western Union money-transfer system.
Western Union has certified MoreMagic's mobile banking and payments
solution m:Wallet, which enables mobile customers to receive funds directly
into their mobile wallet. Those funds can then be used to pay for utilities,
goods and services without the need for a bank account. m:Wallet also enables
mobile operators to maximise the revenue potential of the mobile money
system, while increasing customer loyalty through a comprehensive mobile
money offering and significantly reducing churn.
By certifying MoreMagic, Western Union aims to reduce integration costs
and accelerate go-to-market activities for banks and mobile operators by
creating standard technical deployments. Once a bank or mobile operator using
the MoreMagic m:Wallet contracts with Western Union to activate the Western
Union(R) Mobile Money Transfer service, its consumers will be integrated with
Western Union's core transaction processing system. This system supports
Western Union's global network of more than 386,000 Agent locations in over
200 countries and territories.
Pankaj Gulati, CEO and Chairman, MoreMagic, commented: "Here at
MoreMagic, we are proud to offer our customers a wide range of innovative
mobile money services. The Western Union Vendor certification is a great
acknowledgement of our commitment to the mobile financial services industry,
and we are delighted that our customers will be able to benefit from Western
Union's global agent network."
MoreMagic's m:Wallet enables a broad portfolio of services that simplify
the exchange and management of funds among consumers, merchants, content
providers, and clearing channels. Consumers are able to make secure
electronic payments in real time for mobile applications such as electronic
top up, bill payment, micro-lending, salary payments, ticketing, parking, and
About MoreMagic Solutions
With deployments in more than 60 countries worldwide, MoreMagic Solutions
offers transaction platforms for mobile operators, financial institutions,
content providers, and distributors, enabling consumers to purchase goods and
services on demand using a mobile phone, POS, or web. The MoreMagic Solutions
high-throughput mobile commerce and services platform (m:Broker(TM)) and
pre-packaged applications in the MagicSuite(TM) portfolio enable
revenue-generating services, including mobile recharge (m:TopUp) and mobile
money transfer (m:Wallet), both domestic and international; mobile banking;
bill payment; and mobile commerce; with integration into diverse network
environments, languages, and currencies. Through MoreMagic Solutions'
worldwide distribution network connected to the MoreMagic Global Financial
Services Hub (MagicHub), mobile operator branded services are available for
out-of-country customers, enabling communications with relatives back home,
and increased usage on mobile networks worldwide.
Elizabeth Chadwick, Account Executive, +44-0207-751-4444, echadwick at miliberty.com
Tags: February 1, Massachusetts, Moremagic Solutions Inc., Waltham