Interoperability between industry leaders extends service providers’ reach to over 50 countries in $278.9 billion mobile money and airtime remittance market
Reston, VA—IPsmarx Technology Inc., leading provider of prepaid and postpaid VoIP solutions for service providers and leading airtime remittance provider Prepay Nation today announced the interoperability of the IPsmarx International Mobile Up platform with Prepay Nation’s service. Service providers using the IPsmarx Mobile International Top Up Solution can now make use of Prepay Nation’s extensive distributor and mobile operator network, which is composed of over 200 mobile operator partnerships in over 80 countries with over 175,000 retail points of sale.
The interoperability of the IPsmarx International Mobile Top Up solution and Prepay Nation’s cost-effective and reliable airtime remittance network extends the reach of IPsmarx clients in the growing mobile money market, which is projected to reach $278.9 billion by 2018, according to the research and consulting firm MarketsandMarkets.
Airtime remittance refers to the ability of end users to purchase airtime from mobile operators in other countries, which can then be used by their contacts in those countries. Typically, the sender of mobile airtime lives in a developed country and the recipient lives in a developing country. This means that while purchasing airtime is cost-effective for the sender, it is disproportionately valuable for the recipient due to the difference in purchasing power between the two. Moreover, mobile airtime is often used as currency in many countries. Considering that 2.5 billion people lack access to financial services yet 1.7 billion of these people have a mobile phone, airtime remittance is a highly relevant and useful form of remittance for millions of migrants and guest workers across the globe—and, therefore, a promising revenue opportunity for service providers.
Since 2001, IPsmarx has been equipping service providers with the solutions they need to earn revenue in competitive markets. The IPsmarx International Mobile Top solution allows end users to register and make payments in a number of ways: online; over the phone through the IVR (interactive voice response) system; and in retail locations through resellers and agents. Since many customers have reliable access to only one means of registration and payment, the flexibility of the IPsmarx International Mobile Top Up system enables providers to attract and retain more customers than they otherwise could, were they limited to a single payment and registration method.
The International Mobile Top Up solution integrates with the award-winning IPsmarx Class 5 Softswitch, enabling providers to deliver and manage multiple services, such as VoIP, from a single turnkey platform. With integrated billing and an intuitive user interface, the solution gives providers the precision, intelligence and control they need to effectively manage their business.
“The airtime remittance market is a promising avenue for our clients and service providers in general,” says IPsmarx CEO Arash Vahidnia, “Hundreds of millions of people need a cost-effective, reliable means of international remittance and our partnership with Prepay Nation will further empower our clients to deliver these services, and generate revenue by doing so.”