Telupay has developed a stand-alone, server-side, stored value mobile account (TeluWallet) as part of its standard MBS service that is specifically designed for its non-banking clients like mobile operators, money transfer operators, etc. Telupay’s bank-grade TeluWallet is a full-featured mobile account with all the functionality, security (encryption) and operation that is found in Telupay’s MBS service for standard checking or savings accounts with its banking clients. Telupay’s MBS service, through its administration system, is set up to automatically generate a TeluWallet account upon enrollment and activation.
Individuals can enroll and activate the TeluWallet account through various methods for example, selfenrollment via their mobile phone and online (Internet), or physically at a branch or agent location via a terminal, Bluetooth and by direct connection. Telupay’s mobile operator clients can have the MBS application pre-installed on its handsets, allowing the customer to easily self-activate the service from their mobile phones.
Telupay’s TeluWallet service enables its clients to market their client branded MBS service to its customers and subscribers and utilizing Telupay’s TeluCash technology, can market its MBS service to anyone that has a bank account or credit card, whether or not they are a customer. TeluWallet will generate substantial new revenues streams from international and domestic remittance fees, and significant commissions from airtime purchases, bill payments, merchant payments and other standard MBS services. The service provides Telupay clients the maximum flexibility in its marketing initiatives and its customer acquisition/ retention strategies.