Gemalto, mChek Join Forces to Serve Mobile Payment Markets
Gemalto has announced a partnership with India-based technology partner mChek to bolster the range and choice of secured mobile banking solutions available on Gemalto SIM cards to markets in South Asia.
Since September 2008, Gemalto and mChek have successfully deployed a broad range of mobile banking services with telecom operators in India and Sri Lanka on millions of SIM cards. This includes a mobile top-up service where its customers can recharge anywhere, anytime for themselves or others.
Tan Teck Lee, President of Gemalto Asia said: “mChek has demonstrated an exceptional platform that is flexible and scalable for a broad range of mobile banking and payment applications. By leveraging Gemalto’s worldwide partnership programme, we can partner with mChek to better serve our customers be they telecom operators or subscribers. Together we aim to bring new levels of security and convenience beyond India and Sri Lanka into markets such as Bangladesh, Indonesia and the Philippines.”
The Gemalto Partner Network consists of leading companies that develop products that are complementary to Gemalto products and solutions. Gemalto partners such as mChek have the benefit of exchanging information and getting access to technology and business support as the company looks at expanding its secured mobile banking solutions. This move reaffirms Gemalto’s commitment to the region and to bringing convenient, easy to use, secure-mobile solutions to subscribers.
Facilitating secured transactions on the mobile phone
The rapid adoption of mobile phones around the world, notably in emerging countries, provides an opportunity for the telecom and banking industries to leverage the uniqueness of the SIM card (i.e. a network-enabled personal security device) to provide a range of banking services. While some mobile operators have implemented Stored-Value Account (SVA) wallets, in most countries, banking regulations do not allow non-banks to accept deposits or limit the scope and value of operator managed SVA wallets.
The mChek platform addresses these two issues and provides a solution for telecom operators through Gemalto SIM cards. In a unified environment, mChek enables a broad range of services, including mobile banking, two-factor authentication, secure message delivery, cross-border and domestic money transfer and mobile payments using SVA wallets, direct debit and credit/debit card support.
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