Mobilis Networks, a provider of mobile wallet software applications, announced a new service that enables international money transfers to be sent via mobile phone and verified using a biometric fingerprint scanner.
By deploying Mobilis’ mobile wallet services for international remittances, a mobile operator can receive international money transfers directly into their subscribers’ mobile wallets through point of sale devices located in other countries. Here’s how it works:
First, a customer enters a partnering retail outlet in one country to transfer cash to the mobile wallet of someone in another country. The retailer uses a point of sale payment device with a biometric fingerprint reader and Mobilis’ software to verify the customer’s fingerprint ID.
The retailer then enters the receiving country, currency, mobile number and amount to send. The device communicates with Mobilis’ central server and its international remittance partners, and reports back with the best foreign exchange deal. The customer hands over cash, the transaction is confirmed, and the correct amount is immediately transferred into the receiver’s mobile wallet.
After the funds have landed the receiver’s mobile wallet, the mobile subscriber can then use their phone to pay for goods and services, pay bills, and top-up airtime using NFC at the point of sale.
According to Mobilis, the entire transaction, from identity verification to confirmation of transfer, takes less than 30 seconds with funds arriving in the receiving country mobile wallet 3-5 seconds later.
Mobilis’ mobile wallet services can be deployed by any mobile operator and support any mobile phone, according to the company. In order to leverage the solution’s NFC capabilities, the mobile operator simply affixes an NFC chip to their mobile phone and registers the subscriber free of charge. If the mobile subscriber already has an NFC-enabled smart phone, they can be registered with that too.