MobiCash may conveniently be described as the next generation of mobile payment system. When it comes to mobile payment options, nothing is more convenient than MobiCash cell phone payment! MobiCash is changing the rules in the contactless electronic transaction business and generates very large opportunities!

Patrick Ngabonziza Gordon, Founder / CEO, stated: “Think about it: No more Wallet! No more Check! No more Plastic Cards! No more POS Terminals! No more Wired Networks! No more handle of any Paper Money! All you have to do is to make a call and your mobile phone signs for you!”

Mr. Gordon went on to say: “With just a mobile phone number and a digit PIN and a free MobiCash account, MobiCash customers can make secure cashless transactions. All phones can make payments using MobiCash no matter what phone model or network operator. You do not need to modify your phone in order to use MobiCash. Due to its simplicity MobiCash mobile payment has wide appeal, is easy to deploy and open to everyone – there are no complicated software downloads necessary and no restrictions to enrolment.”

MobiCash is a complete mobile payment platform that works immediately on every phone. Transactions are securely signed with NSDT™ (Near Sound Data Transfer), a technology that sends “cryptosounds” through the phone’s audio channel to enable contact-less mobile payment.

If carrying cash makes you uncomfortable, MobiCash comes to the rescue. Simply top up your MobiCash account with cash and you can enjoy all the benefits today, online, mobile-commerce and at participating merchants. At MobiCash, we decided to leverage the ubiquity and power of the standard mobile phone as a payment platform, delivering more customer convenience. MobiCash is able to offer anyone with a cell phone a convenient, simple to use mobile payment and banking at low transaction fees regardless of the device and the mobile network operator you are on.

“In banking the poor”, says Roger Munya, Vice-President Business Operations, “MobiCash go beyond the basic payment service by explicitly seeking to add other financial services which meet the needs of poor families such as basic bank accounts, savings and micro-credits. MobiCash services provide the first real opportunity for many poorer people to get on to a formal “banking ladder” with benefits including reduced threat of crime, time saving and secure savings opportunities.”

“Rather than simply being paid out in full each time, the recipient can decide when and how much withdraws in cash, and how much to leave on his MobiCash account. As a result of having the account, she or he is more likely to be offered other financial services, since the installments for these services can be collected cost effectively from the account in electronic format; and since the electronic record of cash flows through the bank account could be the basis of assessing credit worthiness.”

The security of MobiCash also rests on the security of the phone’s SIM card, which is presently incorruptible. Access to the client space on the MobiCash website is equally protected using NSDT technology and access is only granted if the phone is present.

Financial firms are incurring huge losses from the use and overuse of credit cards, along with outright fraud and abuse (*The FBI’s Financial Report to the Public for 2007 states that credit and debit cards incur annual losses more than $50 billion involving over 10 million Americans.)

If you lose your phone, your funds are still safe and accessible. MobiCash account information is not kept on your mobile phone or SIM card—it is stored on secure servers just like your money in your bank’s checking account. You will never lose your MobiCash funds or account information no matter what happens to your phone.

You can add money to your MobiCash account on the web using your credit card or directly through the merchant using any accepted payment method.

There is no more need for expensive point of sale telephone lines or any type of network to accept on line transactions on NSDT™ terminals: The customer’s cellphone is used as the POS terminal modem.

MobiCash turns any cellphone into a Merchant Point of Sale (PoS), giving the merchant the ability to do both Merchant-to-Customer and Customer-to Merchant transactions opening up business opportunities for a multitude of small businesses and operators. The merchant can sell goods and services as well as take deposits and provide cash back services.

Merchants equipped with MobiCash’s Payment Terminal (MobiPad) can accept payments with MobiPad at their point of sale. To receive a payment, the merchant enters the amount and the client enters their phone number and their PIN on the terminal keypad.

MobiPad calls this number and the transaction is signed by dipping the phone into the MobiPad payment terminal—the signature is instant (~2 sec.) and each account is credited and debited accordingly. Transactions are confirmed by SMS, vocal-message, email, or printed receipt. Merchants can even accept transactions without a Payment Terminal, they could just use ….their phone !

To reduce the costs of financial infrastructure, it is necessary to piggy back on other cash handling businesses, such as local merchants who already have cash in their tills. The point of sale technology necessary to enable financial transactions such as withdrawals from bank accounts is much cheaper to deploy than, say, ATM technology but the result is similar: the merchant becomes a manned ATM.

MobiCash is creating a fully meshed African Payment Network with points of presence (POP’s) in all major African cities. A fully operational Pan African Payment Network will allow African nations to link directly with each other, rather than having to switch through one of the major US or European hubs.

MobiCash has already established a firm foothold in Africa and has or is finalizing licenses, joint venture agreements with in country partners in Africa and the rest of the world with operational points of presence (PoP’s) in the following locations: South Africa, Namibia, Angola, Botswana, Zimbabwe, Swaziland, Mozambique, Tanzania and Rwanda.


About Mobicash

Headquartered in Johannesburg, South Africa, MobiCash is an international mobile banking and payments solution provider working with telcos, banks and transaction processors in Africa.

MobiCash and Tagattitude, announced their technology partnership in November 2008. Tagattitude has packaged a number of applications that are included in the service platform called TagXess™, all of them using a patented proprietary NSDT™ Technology.

TagXess from Tagattitude leverages the MobiCash payment platform to provide financial institutions with a complete mobile banking and payments solution that supports consumers on all three mobile access modes, offers online and offline enrollment capabilities and integrates with core banking, online banking and electronic payments systems.

Contact:
Patrick Ngabonziza Gordon, CEO, Cel: +2784 3762255,

Roger Munya, VP International Markets, Cel: +2782 9050999

Email: info@mobicashonline.comserge.vandam@mcom.co.nzsergej.vandkam@mc2om.coj.nzs ,

Website: http://www.mobicashonline.com.