Chicago (IL) - Yesterday, the GSMA announced some new developments in the Mobile Money Transfer (MMT) program, an initiative which uses mobile technology to transfer money around. Companies like The Western Union Company have used the service for the past 18 months. Now, the GSMA adds Belgacom International Carrier Services company and eServGlobal as its remittance provider. RBS Group, a global bank, may also soon be on board as a remittance partner.





MMT is a program announced in 2007. It is designed as "a commercial and technical framework that enables mobile operators to deploy services that allow consumers to send and receive low-denomination, high frequency money transfers using their mobile phones."



Companies like Western Union, Belgacom ICS and the RBS Group, all serve as agents acting on behalf of the "command instructions" issued from mobile devices.



According to the press release:

"Each of the partners announced today offers a unique proposition in the mobile money transfer value chain, further expanding the scope of the programme and its services. For instance, in addition to being a mobile remittance platform, Belgacom ICS' HomeSend solution, which was built in partnership with eServ Global, is capable of providing international air time transfer and top up. Beyond RBS' market-leading foreign exchange trade system, the Group brings in-market regulatory compliance and banking operations expertise to operators through a co-branded ('Powered by RBS') joint offering in relevant markets."

See also GSMA's MMT page.




Opinion

I understand this is a viable use of technology. However, with most modern secure web browsers a person can do this with regular online banking tools -- even with the Mobile Opera web browser on cell phones. So, I'm not sure why this is here. Does anybody have any ideas?