MTS - Mer Telemanagement Solutions Ltd. (Nasdaq Capital Market: MTSL), a global provider of MVNE, Mobile Money and TEM services, today announced the first deployments of its Mobile Money solution for a customer in Africa.
MTS will provide the solution in a managed service/revenue share model with a minimum value of $460,000 over three year period.
The Mobile Money solution targets the cellular users who do not have bank accounts and extends the MTS's MVNE offering. This solution will also be offered as standalone product to financial service providers (FSPs) and mobile network operators (MNOs).
The solution provides financial services to s end users such as cash deposit, withdrawal, balance query, money transfers, goods purchases, remittances and bill payments, using their mobile phone.
"The launch of the Mobile Money solution opens a new opportunity for MTS in the FSP market and allows our MVNOs to differentiate and grow their business by adding financial services to their offerings." said Eytan Bar, MTS CEO.
The Mobile Money solution supports customer access through different technologies (STK, SMS, USSD, Smart Phones App and Web) and manages the customer lifecycle, agents and merchant accounts. In addition, the MFS solution supports the management of budget accounts that allow the allocation and dedication of funds to purchase certain goods.