Mastercard and Telefonica decided to work together to provide a new range of convenient mobile money services across South America. These would allow users to transfer money, pay bills, make retail purchases and much more, using their mobile phone. Launching in Peru under the Movistar brand, this was to be the nation’s first mobile money service. Due to gaps in the value chain and various interoperability challenges, we were asked to help with the implementation and support of this exciting new service.
We configured and deployed our Mobile Banking Suite under a white-label, B2B2C model and connected the program to key networks and third party participants (such as cash-in, cash-out, Movistar Agents and MC network). Our custom-built account architectures allowed users to enroll in the service and control their funds using a wide range of integrated features including, Mobile App, USSD, Chatbot, Web, Live Agent, IVR, ATM, EMV, and Magnetic Stripe.
The program was a success, having broken new ground and reached a distribution network of 5,300 retail locations, 2,527 mobile agents and 2,054 reload/cash-in locations. Almost 500,000 accounts across nine Peruvian cities were registered for the service.