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OpenRevolution has launched a next generation mobile e-money network.

This network provides transformative mobile e-money services (MES) to a range of financial institutions and their customers through mobile phones. By delivering this range of innovative services, Network Subscribers can acquire attractive new customers, expand relationships with existing customers and drive new revenues.

The OpenRevolution Network combines essential components of a successful payment ecosystem including merchants and billers enrolled in mobile e-money acceptance, agents that provide cash in and cash out services, a secure hosted mobile e-money transaction processing platform (MoBITM Platform) and relationships with leading mobile network operators. Participating merchants and agents display a common Network acceptance mark (to be unveiled in June 2010).

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MoBITM Platform

The MoBITM Platform is a comprehensive system that merges state-of-the–art mobile money technology with a transaction processing engine. The Platform enables our Network Subscribers’ customers to conduct the following transactions using the e-wallet on their mobile phone.

  • Transfer between e-wallet and bank account
  • Bill/Loan Payment
  • Peer-to-Peer Transfer
  • Cash-in/Cash-out
  • Airtime top-up
  • Transaction history
  • Balance Inquiry
  • Remittance
  • Merchant Purchase

OpenRevolution has made a significant investment in the development of its MoBITM Platform enabling Network Subscribers to deploy mobile e-money services at a fraction of the total cost and with significantly shorter time to market.

The MoBITM Platform is hosted in a secure payment processing facility with a planned roll out of multi-national points-of-presence (POP’s) to support regional implementations as required.  The Platform is integrated with the proprietary systems of Network Subscribers and connected to global financial systems (e.g. SWIFT, ACH, RTGS, ATM switches, and debit and credit networks). The security architecture incorporates PKI-based encryption and mutual authentication capabilities in a PCI DSS-compliant environment.

Merchant Acceptance

The OpenRevolution Network enlists merchants to accept mobile e-money payment from Network Subscribers’ customers. The infrastructure required for mobile e-money payment leverages existing mobile operator networks and the mobile phones already in the hands of merchants and customers. By contrast, the expansion of payment card acceptance in emerging markets is constrained by the extensive investment required in merchant POS hardware, communication and payment card issuance. 

Customers can make convenient e-money payment at all merchants displaying the Network acceptance mark. OpenRevolution's Network Marketing team works closely with merchants to create ongoing merchant offers and bonuses that reward customers for mobile e-money payment. Network Subscribers may earn merchant transactions fees on their customers’ mobile e-money payment at participating merchants.

Cash Agents
OpenRevolution enlists agents to support cash-in and cash-out transactions in convenient locations identified by the Network agent acceptance mark.  By leveraging the OpenRevolution agent network, financial institutions can increase their reach, service, and presence in communities and regions that may be unprofitable to serve with current business models. Customers can encash peer-to-peer transfers or remittances, put money into their e-wallets, or convert e-money to cash at thousands of convenient cash agent locations.

Bill Payment
Customers can use their mobile e-wallet to conveniently pay their monthly bills in any place, at any time. The OpenRevolution Network also provides helpful SMS bill payment reminders to Network Subscribers’ customers. OpenRevolution provides mobile payment capabilities through contracts with billers such as water, gas, electricity, cable television, internet service, telephone, parking, municipal service, etc.  Network Subscribers earn commission revenue from enrolled billers each time their customers make a payment.

Network Deployment and Regulatory Environment
The initial deployment of the OpenRevolution Network is in Georgia with an additional 14 focus countries in Eurasia to follow. In most markets, the Network is being launched in advance of specific government regulation of mobile e-money. Building on our experience and expertise in this area, OpenRevolution has adopted global best practices on the issuance of e-money and the management of e-money systems by voluntarily choosing to operate in accordance with the provisions of the European Union Directive 2009/110/EC on e-money and stored value.

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