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MoreMagic Joins MasterCard Mobile Money Partnership Program

Oberthur Technologies, one of the world’s largest providers of security and identification solutions and services based on smart card technologies, today announced that MoreMagic, an Oberthur Technologies company, has joined the MasterCard Mobile Money Partnership Program (MMPP). The program, launched in February 2012, is designed to help more than 2.5 billion financially-underserved consumers around the world use their mobile phones to access mainstream financial services.  Read about initial launch on our blog.

The MMPP extends the services of today’s mobile money offerings – mobile top-up, bill payments and P2P payments – to provide Mobile Moneyincreased access and availability to electronic payments. In addition, the flexibility of the Program’s platform allows mobile money providers to leverage existing investments in closed-loop platforms, or in case of new deployments, choose the platform of preference.

Through the MasterCard MMPP, Oberthur Technologies will enhance its existing mobile money offerings and give access to the open loop MasterCard network thanks to a range of additional MasterCard services, including prepaid companion cards that can be used at merchants accepting MasterCard cards; virtual card accounts for eCommerce payments using the mobile money account; and, person-to-person payments between subscribers of two different mobile money services.

Current MMPP partners include eServGlobal, Oltio, Comviva, Gemalto, Sybase 365, Telepin and Utiba.