Nokia Siemens and MoreMagic Form Partnership
The jointly developed mobile payment solution enables the delivery of a wide range of services including money transfer, mobile banking, mobile payments and near field communication (NFC) proximity payments.
The joint mobile payment solution interconnects consumers, mobile operators, financial institutions, retailers, agents and other members of the mobile commerce and financial services value chain to enable seamless monetary transactions.
The approach is particularly attractive for developing markets where fewer people have access to bank and credit cards to transfer money.
Rick Centeno, head of charging, billing and care at Nokia Siemens Networks, said: â€œWe are very excited about the growth in the mobile payments space in general and about mobile money and NFC payments in particular.
â€œOur partnership with MoreMagic provides us with a flexible architecture that integrates very well with our flagship products. The combination of MoreMagic solutions with Nokia Siemens Networks' integrated subscriber data management, identity management and unified charging provides a comprehensive set of mobile payment solutions in this innovative market segment.â€
Pankaj Gulati, CEO and chairman of MoreMagic, said: â€œMobile commerce and financial services present some of the most exciting opportunities available today which are totally revolutionizing the way people interact with cash and manage their finances. We are delighted to be partnering with Nokia Siemens Networks and look forward to the evolution of mobile payment services.â€
Will the partnership benefit the firms?
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