mopay, a leading provider of mobile payment solutions worldwide, has expanded the global reach of its mobile payment platform by adding a substantial number of Latin American countries to its worldwide coverage list.
With this move, mopay opens up the fast-growing Latin American market to international companies looking to monetize their offerings by means of mobile payments. In addition to its long standing mobile payment coverage in Brazil, Argentina, Mexico, Chile, Peru, Colombia and Venezuela, mopay just added 11 new countries to its coverage map, racking up the total number of countries covered to 75.
Among international mobile payment providers, mopay is fortifying its lead in global coverage. The 11 recently added countries include Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Bolivia, Ecuador, Paraguay and Uruguay. mopay connects to the major carriers in each of these countries facilitating the billing of small amounts to mobile phone accounts, enabling consumers to choose mopay as means of payment to buy digital and virtual goods with their mobile phones. Beneficiaries of this expansion are both companies in Latin America with a global focus as well as mopay's well-established customer base in Europe, North America and Asia who address this market.
"From our 10 years in the mobile payment industry we have learned that mobile payment revenues can be significant - especially in emerging markets where classic means of payment are not really widespread," says Kolja Reiss, Managing Director of Palo Alto-based mopay Inc. "Central and South America are among the fastest-growing mobile telecommunication markets in the world. By covering 81 percent of the Latin America population, mopay enables merchants to monetize their consumers by offering the most common, instantly available payment method in Central and South America."