Obopay Partners With Warid Telecom to Launch Warid Pesa in Uganda

MUMBAI, India, Jan. 18, 2012 /PRNewswire/ -- Obopay, a leading mobile banking and payment solution provider globally, today announced its collaboration with Warid Telecom, an Abu Dhabi Group company. Together the companies are set to launch a mobile banking and payment service, Warid Pesa, in Uganda. Launched in the wake of growing demand for mobile payments in Uganda, Warid Pesa provides a prepaid account that enables customers to perform e-money transactions, pay for goods and services as well as settle accounts.

Warid Pesa is based on Obopay's proven open and interoperable mobile money solutions, which now support millions of customers globally for some of the world's largest brands. Obopay's platform enables a comprehensive range of use cases that drive incremental transactions and revenue providing a bridge between new and existing payment technologies. The service enables new channels of distribution for offering financial services that are useful in areas with income disparity. It can be used on any device - even on inexpensive pre-paid mobile phones – and the graphic interface has been given a simple design so that anyone can access it easily.  

With Warid Pesa, customers can perform the following mobile money functions:

• Person-to-person mobile money transfer
• Person-to-merchant mobile money transfer
• Send money to anyone
• Request money
• Obtain a mini statement of the account
• Balance inquiry
• Change Personal Identity Number (PIN)
• Top up  prepaid cell phones for yourself or another person

"We understand that financial inclusion is the most important aspect in alleviating poverty in Uganda," said Shailenrda Naidu, Chief Commercial Officer, Warid Telecom, Uganda. "Warid Pesa is an attempt to establish innovative and convenient mobile money transfer and payments for those who don't have access to banking service.

"Obopay's pioneering services have been received very well in other African countries. Our association with Obopay is an assurance that the people of Uganda are provided with the best possible service in the country," added Naidu.

The government of Uganda recognizes that mobile banking and payments are major catalysts in the drive toward financial inclusion in Uganda. Through Warid Pesa, people of Uganda can avail themselves benefits of financial services that were until now inaccessible to a majority of the population.

"Warid Telecom is an important strategic partner for us and comes at the right time as we have been interested in venturing into the Ugandan market for some time," said Deepak Chandnani, CEO, Obopay. "Our platform is ideally suited for the Uganda market. The service encompasses not only the needs of the consumer, but also is beneficial for retailers, agents and merchants."

Intending that mobile payment capabilities should be accessible to all Ugandans, Chandnani said Obopay created its technology for all types of cell phones and its solutions are accessible via SMS, IVR, WAP and USSD channels.

"Security is also always a primary concern when people undertake mobile payments," added Chandnani. "Keeping this in mind, optimum security has been provided for payment transactions to ensure that there is no money laundering and the users' hard earned money is safe."

About Obopay

Founded in 2005, Obopay Inc. (www.obopay.com) offers partner branded mobile money technology and services that transform any mobile phone into a convenient and easy way to send and receive money, get paid or pay small businesses, top-up accounts, buy via mobile and pay bills. Obopay's mobile money services address the needs of consumers and businesses around the world by providing a service that delivers value, empowers lives, and improves opportunity for merchants. Obopay believes the power is in the network and has established partnerships that include Nokia, MasterCard, AT&T, Verizon, Essar, Union Bank of India, Yes Bank in India and Societe Generale. The company's offering enables partner branded mobile money services that financial services and mobile partners can implement quickly at low deployment cost.  Obopay is headquartered in Redwood City, California, with offices in Mumbai and Bengaluru in India, along with presence in Paris, Bogota and Singapore.

About Warid Telecom

Warid Telecom Uganda is an Integrated Telecom Operator, which covers majority of the Uganda's population providing voice, data – both fixed and mobile using 3G/EDGE technologies and info-entertainment services. Warid changed the landscape of mobile communication by bringing in innovative products like Pakalast, Megabonus, Kawa, Beerako, Double line phones to name a few. Warid Telecom's vision is to become the leading national communications provider with a strong international presence. Warid Telecom's goal is to provide an unequalled level and variety of communications services that add value to the lives of all Ugandans. Warid's IP backbone network provides a state-of-the-art broadband and fixed line network to meet the business needs of individuals, SMEs and large-scale corporations.

More Information about Obopay:

Web site: www.obopay.com

Blog: blog.obopay.com

Twitter: twitter.com/Obopay

SOURCE Obopay