Fundamo's Mobile Wallet Solution - Today's Spotlight

Overview: Fundamo is a private company based out of South Africa and builds mobile financial service products primarily used by MNOs. Its deployments have focused largely on emerging markets where the MNOs have a strong distribution network and banking services are mostly serving an elite few. Its mobile wallet and financial services infrastructure provides a full-range mobile money product (see below for features). Founded in 2000 by Hannes van Rensburg, Fundamo has grown to be a respected leader in the mobile money space. Van Rensburg has prior experience working in the financial services industry which definitely bolsters Fundamo’s credibility in delivering robust financial solutions.

Key Features:Fundamo’s Mobile Wallet platform enables the full range of mobile money basics, including:
  • P2P transfers (local and international)
  • Airtime purchases
  • Bill payments
  • Balance inquiries
  • Card and PIN management

  • Notable Clients/Partnerships:Fundamo boasts working in more than 20 countries on over 50 successful deployments. Their strongest regions of deployment are Africa and Latin America with coverage in India, North America, Middle East and Western Europe as well.

    Fundamo’s selection as the mobile platform of choice by MTN is by far the most public and notable deployment. MTN is a large mobile operator also based out of South Africa with over 140 million subscribers in over 21 countries. MTN selected Fundamo’s Mobile Wallet product to serve as the backbone for MTN Mobile Money in a deal worth $10 million.

    Competitors: As a provider of mobile money services to MNOs, Fundamo’s main competition is Obopay. Fundamo also competes with banks and MNOs that attempt to offer their own, in-house mobile financial services platform. Fundamo (and Obopay) provides compelling value for those banks and MNOs that do not want to endeavor to create their own solution from the ground up.

    To read more aout their services and products, you may visit their website


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