Press releases
Fundamo selected by Money to launch shared mobile money network in Pakistan
13 March 2013

Fundamo, a Visa company and one of the world's largest specialist mobile financial service providers, has been selected by Monet, an independent mobile financial services company, to launch a mobile money network in Pakistan. The platform, now approved by the State Bank of Pakistan, will be able to enable providers and partners that share a common objective, to accelerate the delivery of convenient, secure and affordable mobile financial services to the banked, unbanked and underbanked of Pakistan.

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Visa launches VMMS
13 February 2013

Visa Inc. (NYSE:V) today announced the launch of a new plug-and-play mobile money platform that will make it easy and cost-efficient for financial institutions and mobile operators to offer mobile financial services to consumers. The global platform is the world's first bank-grade managed service for mobile money – meaning it allows Visa to host and fully manage all aspects of a mobile money program on behalf of the provider, from user interface design to consumer enrollment, transactions processing, authorization, clearing and settlement. The new service can enable domestic-only or globally interoperable mobile money services.

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Fundamo Reports Accelerated Mobile Financial Services Growth in Africa
13th November 2012

Fundamo, a Visa Inc. company and a leading specialist mobile financial service provider, today reported accelerated growth of mobile financial services in Africa. In 2012, Fundamo has launched three new services – FirstMonie with First Bank Nigeria in Nigeria and Celpay with Celpay International in Uganda and Zimbabwe. Fundamo now supports a total of 27 deployments in 19 countries across Africa. Fundamo's success is testimony to the demand for mobile financial services driven by the needs of 647 million consumers in Africa that do not have a formal bank account (World Bank, 2012).

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FirstBank Launches Mobile Money Service
19th September 2012

Determined to ensure that the vast majority of the unbanked and the underbanked Nigerians enjoy superior financial services, Nigeria's Number One bank brand*, First Bank of Nigeria Plc (FirstBank), today launched its mobile money service, FirstMonie, in a move that is seen as a major push for local money transfer services.

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Mobile Financial Services Community Celebrates 10 Years of Banking the Unbanked
9th May 2012

In 2002, Fundamo powered the first mobile money solution in a developing economy, with Celpay International. Now, the industry celebrates the achievements of the last decade and looks towards to the prospects and challenges of its future.

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Gavin Krugel recognised on the Global Telecoms Business' "40 under 40" list for second year running
2 April 2012

Gavin Krugel, Fundamo's Chief Customer Strategy Officer, has again been included on the Global Telecoms Business '40 under 40' list. Krugel's inclusion highlights his visionary and market defining efforts at Fundamo, as well as his continued focus on driving consumer usage of mobile financial services.

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MCB Bank, Fundamo and Access Group call on mobile financial service practitioners to look beyond technology to drive growth
15 March 2012

At the 5th International Mobile Commerce Conference in Pakistan, MCB, Fundamo and Access Group call on the mobile financial services industry to look beyond technology to meet the new business challenges that threaten to stifle industry growth and success.

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Mobile money pioneers countdown to ten year anniversary
26th October 2011

As the mobile financial services industry nears its 10th year, this announcement celebrates the on-going success of Fundamo and Celpay, who partnered to launch the world's first mobile financial services deployment in 2002. It discusses how, with Fundamo's help, Celpay transacted more than US$500 million in 2011 alone.

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Visa adds mobile payment pioneer to help bring mobile financial services to the unbanked
5th October 2011

Following Fundamo's appointment of mobile industry veteran, Gavin Krugel, as Head of Customer Strategy and Market Activation, this announcement discusses his focus on driving the implementation of mobile money services across developing markets in Asia Pacific, Central Europe, Middle East and Africa.

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Fortis deploys Fundamo platform for mobile money service 30th August 2011

Nigeria's Microfinance Bank, Fortis, and Fundamo announces their partnership to offer accessible financial services to Africa's largest mobile market. By creating a country-specific, branchless banking provision, Fortis will offer mobile financial services to a largely unbanked populace with a high level of mobile phone adoption.

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bKash selects Fundamo to power new mobile money service in Bangladesh
4th August 2011

bKash and Fundamo announces their joint venture to offer financial services in Bangladesh, a market set for mobile financial services hyper-growth. Having assembled a 'dream-team' of mobile financial services players; they aim to provide convenient, affordable and reliable mobile financial services.

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Bank Andara and Fundamo unveil AndaraLink, the world's first mobile-enabled microfinance services network
27th June 2011

Bank Andara, Indonesia's first microfinance wholesale bank, and Fundamo partner to launch the world's first microfinance network, connected via a mobile network. The unique service enables MFIs to provide 40 million financially excluded Indonesians with access to previously unavailable financial services

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Visa acquires Fundamo, signs new deal with Monitise
9th June 2011

Visa announces its acquisition of Fundamo, for USD $110million. In a significant milestone for the mobile financial services industry, the combined Visa Fundamo offering will "open" previously closed-loop systems, with the potential to connect billions of unbanked and under-banked consumers to each other and to the global economy

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MTN Uganda and Fundamo shortlisted for 2011 Global Mobile Awards
27th January 2011

Fundamo and MTN Uganda make the shortlist for the 2011 Global Mobile Award's "Best Mobile Money for the Unbanked" category. The nomination for such a prestigious award highlights the high calibre of their work in providing innovative services to the largely unbanked populace of Uganda.

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YellowPepper and Fundamo Partner to Bring Greater Access to Mobile Money Services in Latin America
16th February 2010

YellowPepper and Fundamo announce their partnership to offer YellowPepper Mony, a mobile financial service targeting the largely unbanked populace of Latin America. The service offers fundamental, transformational technology via the Fundamo m-Wallet, offering the possibility of improving the daily lives of the Latin American people.

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Leading Pakistani bank celebrates US$10 million mobile money milestone, now targeting its growth into the 50 million unbanked customers with mobile phones
17th February 2010

The announcement highlights the achievement of one of the most proactive mobile financial services in the world: MCB Mobile Money. The Fundamo-powered offering from MCB celebrates processing USD $10million worth of transactions in less than eight month using a pioneering shared platform approach.

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Fundamo shortlisted for the 2010 Global Mobile Awards
21st February 2010

Fundamo and MCB's work on Mobile Payments is shortlisted for the "Best Mobile Money Service". The simple, yet scalable, mobile payments service was the first of its kind in Pakistan and provides an ever-evolving mobile financial services ecosystem.

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Fundamo, mChek certified in Western Union Mobile Vendor programme
22nd February 2010

Western Union announces that it has certified Fundamo as part of its Mobile Vendor Program. Certification into the Mobile Vendor programme extends Fundamo's reach and accessibility, a huge step forward in providing financial services to unbanked populations across, Africa, Asia and Latin America.

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Accenture announces Mobile Money Management Solution for high-volume mobile financial services
10th March 2010

Accenture announces a new secure, high-speed, high-volume mobile financial transaction software solution for telecommunications service providers and large banks. The service, based on the Fundamo Enterprise Platform, is designed to connect to users on mobile operators or web sites for large-scale implementation of mobile financial services.

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MTN Uganda approaches one million MobileMoney subscribers
2nd June 2010

MTN Uganda's MobileMoney service achieves almost one million subscribers in record time. This announcement focuses on the success of the MTN and Fundamo partnership that has led to the accelerated uptake of the MobileMoney service.

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MTN Uganda and Fundamo shortlisted for World Communications Awards 2010
8th September 2010

MTN Uganda and Fundamo make the shortlist for the "Best New Service" at the World Communication Awards. The nomination highlights the success of the service in delivering a unique approach to providing mobile financial services, and improving access to financial services for the previously unbanked.

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Fundamo and Xperteam partner to drive mobile financial services in MENA
25th October 2010

Fundamo announces its partnership with Xperteam, a move designed to enhance Fundamo's presence in the market and drive mobile financial services in the Middle East. Xperteam will act as a reseller and also work with Fundamo to implement the Fundamo Enterprise Platform in its local markets.

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Fundamo shortlisted for World Communications Award 2009
23rd September 2009

Fundamo has been nominated in the World Communications Awards 2009. Fundamo's achievements emphasised the importance mobile technology has had in revolutionising the financial service industry, and changing the lives of many previously unbanked populations.

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MTN chooses Fundamo for the largest global roll-out of mobile wallet capabilities
16th March 2009

In a $9.7million deal, MTN announces its selection of Fundamo, to power its mobile banking offerings. It will provide access to MTN MobileMoney for over 80 million Africans across 21 countries.

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Fundamo, Clickatell Partner to Deliver Mobile Banking Solutions to Global Financial Providers
12th August 2009

Fundamo and Clickatell have partnered to provide financial institutions with the capability to deploy immediate and long term mobile financial services.

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