Banamex and Banco Inbursa tap Gemalto for Mexican m-payments service

Source: Gemalto

Gemalto (Euronext NL0000400653), the world leader in digital security, announces being selected as the technology provider for Transfer, the service to be offered by the joint venture between América Móvil/Telcel, Citibank´s Mexican unit Banamex and Banco Inbursa in order to turn the mobile phone into an innovative and efficient payment instrument for carrying out transfers and air time purchasing, among other operations.

Transfer is the service that enables financial transactions in real time, 24 hours a day, from a mobile device through SMS messaging.

América Móvil is the leading telecommunications services provider in Latin America with around 242 million mobile phone subscribers and operations in 18 countries. Telcel, its local unit in Mexico, has over 67.5 million customers. Banamex has an extensive distribution network of about 1,662 branches, 5,787 ATMs and more than 4,200 banking agents located throughout the country. Inbursa provides banking services in Mexico and is controlled by Grupo Carso, the holding company for América Móvil.

Gemalto is the technology provider in Mexico of Transfer´s transactional platform and is responsible for the service development, support and operation. Gemalto´s experience from over 70 mobile financial services deployments worldwide ensures the solution is designed to grow seamlessly as consumer adoption rapidly ramps up and services diversify in Mexico.

Transfer is based on Gemalto´s LinqUs mobile payment platform, which ensures that customers will be able to use their mobile accounts safely through different channels. This platform integrates in accordance with the financial and telecommunication industries standards allowing the users to perform transactions like transfers, air time purchasing and cash withdrawal from the convenience of their mobile phones. The user will also be able to manage his accounts through other self-service channels like interactive voice response and web sites.

"Transfer is a service that arises from the combination of two highly technologically sophisticated systems, with a large coverage: banking and telecommunications," said Daniel Hajj Aboumrad, CEO of América Móvil. "The great potential of Transfer is present not only in Mexico, but also in the rest of Latin America where, together, we have around 240 million customers."

"We are proud to lead this technological innovation effort, creating simple and convenient financial solutions for the population needs, particularly the unbanked, through a very simple formula. We are aware of the potential that this platform has to transform the banking operation, initially in Mexico, and expanding it to Latin America," said Manuel Medina Mora, Chairman of the Executive Committee of Banco Nacional de Mexico and Grupo Financiero Banamex.

"Transfer benefits from Gemalto´s solid global experience in both the banking and telecommunications sectors, holding a large number of mobile financial services programs worldwide," added Rodrigo Serna, Vice President Telecommunications of Gemalto Latin America. "This major project strengthens the relationship with América Móvil, Banamex-Citigroup and Inbursa for the development of mobile financial services across the region." 

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