The coverage and convenience of mobile services, combined with its ubiquity have triggered an interest in enabling mobile money payment and transfer services. Mobile payment includes the purchase of services or goods expensed to the mobile account or to an external payment entity. It creates an optional money transfer system which is convenient for customers, and does not depend heavily on banking infrastructure. Mobile payment is an emerging domain with tremendous potential to generate additional revenue for telecom service providers as it can provide inexpensive and effective banking and money transfer solutions with a timely secure method of transaction and fewer physical points of presence.

Mobile payments are already being used for micropayments (paying off for public transport, bill payments, ticketing, and person-to-person money transfers, including international remittances). It is envisaged that, in future, mobile subscribers may use their handsets for all forms of payment or money transfer.

Contakt provides a range of mobile payment solutions reducing transactions cost and, at the same time, increasing payment opportunities. Our products and solutions fulfil the requirements of telecom service providers wanting to expand into mobile payment services, or collaborate with financial institutions and service providers to provide banking and remittance services.