Sybase 365 Teams With Swisscontact to Provide End-To-End Mobile Money Solutions in Emerging Markets
Companies Cooperate To Resolve Regulatory, Technological, Financial And Educational Challenges To Build Sustainable Mobile Financial Ecosystem
JOHANNESBURG, SOUTH AFRICA — MOBILE MONEY TRANSFER CONFERENCE — Sybase 365, a subsidiary of Sybase, Inc. (NYSE: SY), the global leader in mobile messaging services, today announced it will team with Swisscontact, the Swiss Foundation for Technical Cooperation, a leading global development organization, to provide sustainable development of Mobile Money Transfer (MMT) and Mobile Money for the Unbanked (MMU) services in emerging markets.
“In order to build a favourable environment for end-to-end MMT and MMU solutions, regulatory, technological, financial and educational challenges need to be resolved,” said Matthew Talbot, Vice President, mCommerce, Sybase 365. “The cooperation between Sybase 365 and Swisscontact will help address these challenges by combining commercial with social interests and delivering innovative mCommerce solutions for millions of mobile users.”
The number of mobile phone subscribers is expected to reach 5 billion by 2012, largely due to growth in emerging markets. In absolute terms, this is also the potential size for mobile money opportunities, as all mobile phones are capable of sending and receiving data via SMS. The uptake for mobile money services in emerging markets will be driven largely by domestic or cross-border person-to-person fund transfers. Today, less than 15% of the population in emerging markets has access to bank accounts, while mobile phones provide access to basic financial services and micro finances for both the unbanked and the under banked. One in 10 people around the world undertake remittances and 70 percent of migrant workers remit funds on a regular basis.
“With the mobile phone expected to be the single most transformative technology for development in emerging markets, mobile money services have the potential to integrate all consumers into the formal financial sector.” said Ulrich Merkes, Global Topic Leader, Information & Communication Technology (ICT) at Swisscontact. “By promoting private economic and social development in Asia, the Middle East and Africa through advisory services, training and continuing education, Swisscontact aims to empower local communities, ultimately leading to sustainable economic development and growth.”
The Sybase 365® end-to-end mCommerce solution enables subscribers to buy, pay, bank and remit money via a mobile device. For example, in partnership with Globe Telecom in the Philippines, and as a certified GSMA Mobile Money Vendor, Sybase 365 has already deployed MMU and micro finance solutions in emerging markets including Egypt, Nigeria, Kenya, South Africa, Columbia and Chile, as well as MMT solutions in markets including the Philippines, the UAE, Malaysia and the United States.
Sybase 365 will present its MMU and MMT mCommerce offerings, and its partnership with Swisscontact at the MMT Conference, Africa in Johannesburg, South Africa, May 5-6 2009.
The Swiss Foundation for Technical Cooperation (Swisscontact) is a politically and denominationally neutral organization founded in 1959 by personalities from the Swiss private business and university sectors. Three hundred staff members are active for Swisscontact in project countries as well as in Switzerland. Swisscontact’s goals are to promote sustainable development (socially, ecologically and economically) in selected southern and eastern countries, by promoting vocational education and training, by promoting small and medium sized enterprises (SMEs) through the improvement of services and competitiveness, through urban ecology, by reducing environmental damage in cities, through financial services, by improving savings and credit opportunities for poor households as well as small and medium sized enterprises. For more information, visit: www.swisscontact.org.
About Sybase 365
Sybase 365, a subsidiary of Sybase, Inc. (NYSE: SY), is the global leader in SMS, MMS and GRX mobile messaging interoperability, the delivery and settlement of mobile content; mobile advertising and mobile commerce services. Processing more than 200 billion messages per year, Sybase 365 reaches more than 700 mobile operators and 3 billion subscribers around the world. For more information, visit: www.sybase.com/365. Read Sybase Blogs: http://blogs.sybase.com
Sybase and Sybase 365 are trademarks or registered trademarks of Sybase, Inc. All other company and product names mentioned may be trademarks of the respective companies with which they are associated. ® indicates registration in the United States.
Certain statements in this release concerning Sybase, Inc. and its prospects and future growth are forward-looking and involve a number of uncertainties and risks. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to, the performance of the global economy and growth in software industry sales; market acceptance of the company’s products and services; customer and industry analyst perception of the company and its technology vision and future prospects; the success of certain business combinations engaged in by the company or by competitors; political unrest or acts of war; possible disruptive effects of organizational or personnel changes; and other factors described in Sybase, Inc.’s reports filed with the U.S. Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2007.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.