The exponential growth of mobile phone represents interesting opportunities for the payment business and gives MobiCash the ability to offer products and value added services (V.A.S) for anyone with a cell phone at competitive transaction fees. MobiCash turns any existing cell phone into a Merchant Point of Sale (PoS), giving the merchant the ability to do both Merchant-to-Customer and Customer-to Merchant transactions, opening up business opportunities for a multitude of small businesses and operators.
Our vision is to provide an integrated payment solution that will address the use of our technology to enable people who are not served by financial institutions to start using financial services without having to access them through traditional bank branches. Our Mission is to achieve our vision through participatory research and capacity building of communities by bridging the financial divide and to bring cost effective solutions to a broad a market as possible.
Mobicash has been developed in order to create cashless ecosystems. Our approach to service design is fundamentally different from most of existing mobile payment scheme, designed as custom retention scheme with the belief that ‘cash is king’. Mobicash customers don’t need to cash-out as we are providing them with options to use their electronic money rather than instantly convert it back into cash. We position ourselves as “Much more than Money Transfer” and promote some combination of money transfer, payroll, tax collection, e-ticketing, airtime top-up, bill payments, merchant payments,... so that e-money can be used from Mcash virtual account directly.
Most would agree that money is worth nothing if it cannot be spent, and yet, most mobile money today is not spendable! Nearly all mobile money is “cashed out” to then be spent on various goods and services in cash. By bringing retail transactions into the equation, MobiCash mobile money becomes a very attractive alternative to cash. Introducing retail transactions completely changes the mobile money business model as well as the value proposition for end users.