Fidelity National Information Services (NYSE: FIS), a Fortune 500 company and a leading global provider of core processing, card issuer and transaction processing services, and Obopay, the pioneering service provider for payments via mobile phones, today announced a person-to-person (P2P) mobile money transfer service for financial institutions using FIS core processing services.
Through the alliance with Obopay, FIS becomes the industry's first core provider to launch a mobile phone-based person-to-person payment service.
With the FIS mobile P2P service, financial institutions can quickly introduce branded mobile payments to their customers, who can immediately send and receive money from friends and family, anytime, anywhere - safely and securely. The FIS mobile P2P service will initially be offered with checking accounts or prepaid cards linked to the mobile phone, enabling users to send and receive payments. To use the FIS mobile P2P service, consumers simply link their checking account or payment card to their mobile phone.
In addition to adding a revenue opportunity for banks, the FIS mobile P2P service provides exciting opportunities in other payment and financial service sectors. It creates a compelling and relevant new service that helps banks attract and retain customers, including the increasing unbanked segment - estimated to be as high as 80 million by the Smart Card Alliance. Because anyone with a mobile phone can use mobile payments services, the FIS mobile P2P service gives banks the opportunity to provide a valuable service to a very large - and growing - banking segment.
"This alliance with FIS is further evidence of the importance and value of mobile payments to banks and their customers," said Gregory Holmes, president of U.S.-based operations for Obopay. "As our mobile payment service continues to evolve in concert with established financial services firms, we remain committed to delivering solutions that enable banks to drive new revenue and connect with America's more than 260 million mobile consumers."
"We are excited about our alliance with Obopay in providing this valuable banking service to the mobile banking community," said Anthony Jabbour, executive vice president for FIS Core Processing and eBanking. "By meeting the emerging expectations of the growing mobile banking community, the FIS mobile P2P payment solution is yet another testament to the commitment FIS has in providing the most comprehensive array of technology solutions to help financial institutions meet their customers' evolving needs."