Mobile money roundup: new services, SMS and rebranding

MTN Rwanda becomes latest African operator to launch mobile money. Operator-end mobile services are being pushed in emerging markets by Alternet. Bulk SMS experts FrontlineSMS is launching a micro-transactions service for NGOs. Bank of India is partnering with Rev and Mastercard for inclusive banking services… and more.

Rwanda becomes latest African country to get mobile money

The Rwandan arm of African mobile operator MTN will be launching MTN Mobile Money in the country by the end of the year. According to the operator, only 14% of the population of the country has access to a bank, whereas 20% currently has access to a mobile phone (and that number is growing). The service will allow phone owners in Rwanda to transfer money to one another via mobile – and soon it will allow international transactions as well.

Mobile commerce company Alternet launches services in emerging markets

Alternet works on the mobile operator end, enabling operators to offer mobile money services to their subscribers. The company initially focuses on mobile commerce and electronic ticketing payment, trying to create systems that combine operators, financial institutions, and services likes transportation and utilities – so that users can use and pay for all of these services through their phones. In association with the Greenfield program, Alternet is moving into Central and South America, China and East Africa

FrontlineSMS launches text-based micropayments service

FrontlineSMS is a service targeted at large-scale NGOs who need a cheap, mass communication service. It combines SMS with a computer portal to allow an organisation to keep its members in contact through mass SMS. Now FrontlineSMS has announced a microtransaction service that will run on the same technology. FrontlineSMS:Credit will connect the SMS system with mobile transactions, allowing NGOs to use FrontlineSMS as a payroll centre, a centre for micro-insurance premiums and payouts, and for individual credit histories.

Bank of India pushing for “financial inclusion”

The Bank of India is working with MasterCard and payment solutions company Rev to bring banking services to the millions of “unbanked” in India. The initial product trials and launches are focusing on prepaid card and mobile payment services that will allow Indians without bank accounts to perform basic cash transactions.

Txttrans launches third version, rebrands as “paythru”

Txttrans is a mobile payment system that has been around since 2003 – we last saw it powering iPhone-based payment service MoBank. Evidently Txttrans feels it hasn’t been getting enough love, as along with the launch of the third version of it’s mobile money service it is also completely rebranding as Paythru. It is a mobile web hosted service that works via SMS, so it’s usable via any device on the market. All it requires is a merchant that is signed on to Paythru, and you can pay via SMS.