Fundamo is a wholly owned subsidiary of Visa Inc. and one of the largest specialist providers of mobile financial services in the world.
Fundamo has built one of the worlds most advanced and sophisticated mobile financial service platforms. The platform has been deployed in more than 34 countries across Africa, Asia, and the Middle East, offering mobile financial services to unbanked and under-banked mobile subscribers including person-to-person payments, bill payments, wireless airtime top-up, and ticketing.
Working with clients and partners globally, Fundamo has played a major role in the development of the mobile financial services industry since 2000. Fundamo launched the world’s first mobile financial service in a developing economy with Celpay Zambia in 2002.
In June 2011 Fundamo was acquired by Visa Inc. for $110 million. The acquisition combines Visa’s global network scale, product suite, financial institution associations, and security with Fundamo’s capability in mobile financial services. The acquisition created a globally interoperable mobile payment platform that can connect existing mobile money services with Visa‘s global payment network.
Fundamo’s vision is for a truly connected mobile financial services ecosystem that acts as an agent of positive social, economic and technological change.
Fundamo is headquartered in Cape Town, South Africa.
Proven financial services and mobile-money expertise.
Fundamo has established a leadership position based on a history of technical innovation, successful deployments and its vision in predicting the trend towards providing mobile financial services through mobile phones.
A robust, scalable, configurable and connectable platform.
Through experience and investment in R&D
Designed to provide rich functionality on a well-connected and configurable platform. Fundamo Enterprise Edition is a full service platform providing a comprehensive range of mobile banking, mobile payments and mobile remittance options, including real-time person-to-person or mobile-to-mobile payments, cross-border remittances, bill payments, airtime top-ups, mobile wallets (accounts) and virtual goods payments. The platform also offers sophisticated agent hierarchy management and associated commission and fee management.
Extensive deployment experience.
To date Fundamo deployment teams have successfully deployed mobile-money solutions in multiple countries, within multiple regulatory dispensations. We understand the demands placed by Mobile Financial Services applications on clients' networks and the demands this places on their support processes and organisations.
Experienced market activation team.
To build on its world-class technology platform, Fundamo has recruited experienced mobile-money practitioners who have successfully managed deployments at scale and who remain at the forefront of building mobile-money propositions. Fundamo will offer clients a combination of strategic advice as well as hands-on, practical support on key operational tasks, including proposition development, agent management and embedding the service into your company procedures, culture and mind-set.
The Visa and Fundamo combined proposition.
We will continue to deliver best-in-class technology to expand the reach of mobile financial services capabilities across the globe. With Visa we are extending the service offering to ensure that consumers can transact where and when they choose with Visa's reliability, security and worldwide acceptance.