Telepin Software, a global leader in mobile money transaction platforms, announces that it is now powering the Mobile Financial Services (MFS) for three Millicom Tigo Money operations. Telepin was successful in winning a global Request for Proposal (RFP) process to conduct a full migration from Millicom’s existing mobile financial services platform. Telepin’s technology is now powering Tigo Cash in the Democratic Republic of Congo, Rwanda and Tigo Pesa in Tanzania.
“Thanks to the growth of mobile phones, the people of Africa are now active participants in the economies of their countries. We anticipate that mobile money transaction volumes and revenues will continue to rise dramatically, as banking and telecommunications industries co-operate more closely with customers to manage their own mobile money,” said Greg Reeve, COO of Millicom Group Mobile Financial Services. “In selecting Telepin Software to replace and upgrade our Mobile Financial Services (MFS), we are ensuring that we have the best ability to expand our services and inter-operate across all of our regions, interact easily with other mobile providers, and offer new value-add services to our customers.”
Telepin powers over 40 active MFS programs around the world. Telepin’s unique software and services help mobile operators deliver robust financial services offerings to their subscriber and merchant customers. The software plugs seamlessly into existing mobile infrastructure, leveraging the investments already made in charging systems, replenishment systems, and value added service delivery platforms. Traffic on Telepin-powered networks exceeds 1,500 TPS (transactions per second) processing over 43 million transactions per day.
“Africa is leapfrogging over North American in digital currency, mobile commerce and mobile payments with the innovations that are happening today,” said Telepin President & CEO Vincent Kadar. “We are thrilled to power the Millicom mobile money ecosystem, and are eager to continue to work together to take advantage of the rapid growth trajectory of mobile money across Africa & Latin America.”
Telepin will be participating at the upcoming Money 20/20 in Last Vegas from October 25 to 28, and Mobile Money and M-Commerce in Cape Town South Africa November 17–19 as well as the Mobile Money Global event in Istanbul December 1–3.
Telepin Software is a global leader in mobile transaction platforms, delivering mobile operators the most efficient and cost-effective way to control their distribution network, maximize revenues from mobile financial services, and drive innovative mobile financial applications. Telepin’s Cayman Transaction Platform enables a full suite of electronic, transaction-based applications for mobile subscribers to recharge their mobile airtime without the use of physical cards or vouchers, facilitate P2P money transfers, allow for electronic bill payments, and more, using multiple channel interfaces. Telepin’s customer base includes tier-one operators in the Middle East, Africa, Asia, and the Americas. For more information, visit: telepin.wpengine.com.
Millicom, through its consumer brand Tigo, has experienced an accelerated transformation journey over the past couple of years to become Africa’s fastest growing mobile business in the first six months of 2015.
Millicom is becoming acknowledged as a leader in fostering financial inclusion through Mobile Financial Services, offered via the Tigo Cash and Tigo Pesa mobile money brands. Its success is being exported from Africa to many other emerging and developed markets. Tigo MFS customers in Africa moved $7 billion in 2014 alone and 8 million people use Tigo MFS every day.
Millicom is a leading telecom and media company dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing innovative and customer-centric digital lifestyle services to the world’s emerging markets. The Millicom Group employs more than 16,000 people and provides mobile services to over 59 million customers. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2014, Millicom generated revenue of USD 6.4 billion and EBITDA of USD 2.1 billion.
Heather McCulligh, Telepin Software
Tabitha Aldrich-Smith, Millicom
London: +44 7971 919610