CM Telecom moves into mobile payments

Source: CM Telecom

Mobile service provider CM Telecom moves into mobile payments and has founded CM Payments, a new Payment Service Provider (PSP) that will operate internationally.

CM Payments opens its office in Amsterdam.

Growing market
CM was founded in 1999 (www.cmtelecom.com) and specialises in worldwide mobile messaging and payments. It sees a strong growth in the (mobile) payment market. The number of online transactions increases and payments more often take place internationally. Moreover, consumers are increasingly using various payment methods. A growing number of businesses, charities, organizations and governments focus on mobile and online payments, however the setting of online payments has not changed significantly in 15 years. Also CM clients ask for more payment options.

Platform & technology
CM already has the in-house technology and the platform, which can process a large number of transactions per second. CM Payments (www.cmpayments.nl, Dutch) bases its technology on the existing technology. The platform offers connectivity to multiple payment methods including VISA, MasterCard, Paypal, iDeal, Microincasso and Bancontact (Belgium).

Closed beta period
CM Payments wants to expand the cooperation with a number of existing CM customers by using the capabilities of the payment platform. The group consists of, among other, authorities, fundraising institutions, media, e-commerce and telecom players. After the closed beta period, CM Payments goes public.

Jeroen van Glabbeek, CEO of CM: "Starting the PSP CM Payments stems from the growing demand for mobile and online payments. From 1999 CM shows expertise in mobile transactions and may call itself the largest mobile payment company in the Netherlands. We want to use the closed beta period to build confidence and work towards perfection and speed. After that period we want to serve all companies that need quick and secure mobile payments through bank accounts and credit cards. That also means that we roll out CM Payments internationally."

Lead sponsor of NAC Breda
Additionally, CM Payments will be the lead sponsor of the football club NAC Breda the coming season and an option for a second season. NAC Breda comes out in the second highest division in the Netherlands.
Contributed | what does this mean?
This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

Comments: (0)

Featured job
All Jobs »