Banco Bilbao Vizcaya Argentaria (BBVA) and Telefonica Moviles of Spain are to use technology from ACI Worldwide to underpin their recently-announced mobile payments operations Movilpago.
MovilPago plans to offer mobile payments services in 30 countries worldwide within two years, with an anticipated 100 million consumers using the system and 5 million merchants accepting payments.
The joint venture aims to become a common medium for everyday consumer e-payments - particularly smaller value transactions in traditional, Internet and m-commerce environments.
"The unique feature of the MovilPago system is that payments can be made from any existing GSM or other digital handset, with no modification required to the handset or SIM card. The system is open to all GSM or other digital operators and to all financial institutions," says Mario Cantero Brandes, CEO of MovilPago. "The ACI solution we've selected to power the system provides us with a high speed, high reliability m-payments platform that can scale to support the transaction volumes we anticipate and can adapt to increasing value-added transaction types."
With ACI's BASE24 forming the core of the processing operation, MovilPago also will implement ACI's GENcard account management application, i24 Internet banking application, e24 e-commerce application, Prism predictive fraud risk management system and Enguard enterprise systems management tool.