WISeKey's WISePay(TM): the Mobile Payment System for Unbanked and Underbanked Populations Fulfils Clinton Global Initiative (CGI) Commitment

News provided by

WISeKey SA

Sep 23, 2010, 01:59 ET

GENEVA, September 23, 2010 /PRNewswire/ -- WISeKey and eight CGI members, including the GSMA Development Fund, a grant from The Bill and Melinda Gates Foundation, Western Union, MPower Ventures and Women's World Banking, committed in 2008 to bring Mobile Banking to millions of people. As a result, WISeKey is offering a platform to enable anyone with a mobile phone to carry out transactions, even if they don't have a bank account.

"It is estimated that only 1 billion people out of the world's nearly five billion mobile device users have bank accounts, but people need a way of sending money to peers," said Carlos Moreira, CEO of WISeKey. In addition to the "unbanked", there are the "underbanked"-those who have inaccessible bank accounts, as branches and ATMs are rare in many emerging economies.

WISePay, based on WISeKey technology, allows financial institutions, mobile operators, e-commerce and catalog retailers to provide customers with universally trusted services through the most common and secure channels.

WISePay can either be deployed quickly by organizations through software-as-a-service & launched to smaller communities cost-effectively, then scaled, or the full platform can be installed on customer premises.

Interested institutions that wish to deploy WISePay can contact WISeKey at [email protected].

WISePay works in combination with WISeID, which provides a Digital ID on your iPhone and iTouch, downloadable from: http://itunes.apple.com/app/wiseid/id384040842?mt=8

Download WISeID and register in order to receive the next release of WISeID, and also receive WISePay Virtual Money: access person-to-person money transfer, bank account transfer, loan reimbursement, bill payment, mobile credit top-up, and media purchases, among other features.

Available for iPhone, Blackberry, Samsung, Ericsson, Nokia and any J2ME capable phone.

    More information:
    http://www.wisekey.com/en/Products/WISePay/Pages/default.aspx
    or contact:
    Olivia Ward
    [email protected]
    +41(0)22-594-3000

SOURCE WISeKey SA

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