MIAMI, FL--(Marketwire - Aug 13, 2012) - Utiba, leading provider of mobile financial service solutions, announced today the global expansion of its Software as a Service (SaaS) offering. Launched initially in the Americas and later extended to Eurasia, hosted services have been positively received by financial institutions, mobile network operators, and payment service providers seeking a robust and flexible platform on which to rapidly launch their mobile financial services.
Utiba's SaaS offering currently supports customers in Central America and Eurasia, and is being launched in other Latin America countries of Bolivia, Colombia, Peru and Mexico, as well as in Asia Pacific. The market's enthusiastic response has led Singapore-based Utiba to expand the hosted services model globally, with regional points of presence (POPs) planned for Asia, India, Eastern Europe and the Middle East / Africa.
Utiba's SaaS offering provides a flexible, scalable and robust platform capable of a comprehensive range of services without the significant upfront investment or the considerable ongoing expense required to establish and maintain a payment platform. This innovative business model significantly lowers the mobile payment provider's entry barriers, time to market, and total cost of ownership (TCO), allowing them to focus on their core skills of marketing, customer acquisition and retention and the development of distribution and agent networks.
The feature rich suite of hosted services is a reflection of Utiba's extensive experience and innovation, the culmination of more than 11 years in mobile financial services and more than 50 deployments worldwide. Utiba's mobile payment platform has been primarily utilized in emerging markets as a tool for financial inclusion of the unbanked, but is increasingly viewed in developed markets as an alternative platform for consumer and merchant payment services.
Earlier this year Utiba launched its newest suite of innovations under the umbrella strategy of Converging Payments, designed to extend the reach and acceptance of mobile wallets through global strategic partnerships with players such as MasterCard and Validsoft. The partnership with MasterCard links MasterCard prepaid cards with Utiba powered mobile wallets, allowing mobile wallet users to use ATM networks abroad, make purchases on the Internet and in retail locations that belong to the global acceptance network of MasterCard. These and other innovations will be immediately available to Utiba's SaaS customers.
Utiba Co-CEO Richard Matotek commented enthusiastically, saying, "Hosted services give our customers access to the full suite of services supported by the Utiba Mobility Platform and enable them to immediately benefit from our product innovation and global partnerships coming down the pipe, which we believe will really drive end user adoption and use of the mobile wallet."
Utiba has spent more than a decade developing the leading mobile financial services solutions in the market, in pursuit of its vision of enabling everyone to make mobile payments. In use in more than 30 countries, the Utiba Mobility platform supports 660 million subscribers and processes over 12 billion transactions per year, enabling people to send money, pay bills, receive salaries and more, all from their mobile phone. Privately held Utiba is headquartered in Singapore, with seven regional sales, service and development offices worldwide. For more information, visit www.utiba.com or follow us on Twitter @utibamobility.