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MMS – Mobile Money System
Mobile Payment / Virtual Wallet

GI brings a complete new way of managing money. MMS enables mobile subscribers to have prepaid virtual wallets associated to their mobile account from where they can pay goods and utilities or send money to family and friends, gaining security by reducing real money transactions (replacing real money with an electronic transaction). MMS helps making the prepaid model more profitable and at the same time gives their subscribers a more convenient way for handling their prepaid credit.

Product description

 MMS is an electronic wallet solution that allows e-money management via a standard GSM handset by means of IVR, SMS, USSD or WAP, allowing distributors and retailers to sell prepaid airtime or “cashing in” funds into the subscriber virtual wallet.  From there, subscribers can send remittances, transfer e-money from one subscriber to another (or to a non-subscriber) or even pay for goods using a wide base of mobile agents.

How it works

Subscribers can recharge their e-wallet account at authorized mobile agents (retailers) or directly through a subscriber´s bank account or credit card debit by means of USSD, SMS, WAP or IVR (“cash in” operation).  The cash in process credits the subscriber account into the MMS platform and debits the retailer´s account, while the subscriber hands cash to the retailer.

Subscribers, using any of the given interfaces, can then use their electronic funds to pay for goods or send part of their funds to other subscribers, who in turn may choose to use it to pay for goods, convert it to air-time, or just convert it to cash at retailer´s stores. This process, known as “cash out” operation, involves transferring the subscriber´s funds to the retailer´s account, who in turn hands cash to the subscriber (charges and commissions may apply in these operations).

The solution holds interfaces with the operator´s Prepaid and Post Paid platforms, Billing System, Bank and Credit Card Gateways, WAP Gateway, and external gateways for utilities and goods payments. MAP links are used for USSD transactions and SMS transaction confirmation messages.

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