Mopay is a
mobile payment
A mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device, as the cardinal class of ...
platform represented in the U.S. by Mopay, Inc. Mopay and Mopay, Inc. are registered trademarks of MindMatics Group, a Germany-based
mobile marketing
Mobile marketing is a multi-channel online marketing technique focused at reaching a specific audience on their smartphones, feature phones, tablets, or any other related devices through websites, e-mail, SMS and MMS, social media, or mobile a ...
company.
History
The brand mopay was first registered in Germany in 2003 by MindMatics AG. Offering single payments interface between online merchants and their respective end-customers, mopay was designed as international mobile payment platform.
In 2009, mopay became the central product of the mobile payment division of MindMatics Group. In early 2010, mopay Inc., was founded as the North American branch of Mopay.
Product
Mopay addressed vendors of
virtual goods
Virtual goods are non-physical objects and money purchased for use in online communities or online games. Digital goods, on the other hand, may be a broader category including digital books, music, and movies. Virtual goods are intangible by defin ...
and
digital goods
Digital goods or e-goods are intangible goods that exist in digital form. Examples are Wikipedia articles; digital media, such as e-books, downloadable music, internet radio, internet television and streaming media; fonts, logos, photos an ...
. It offered a billing option for small online purchases through mobile operators accounts. Mopay sought to reach
unbanked
The unbanked are adults who do not have their own bank accounts. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available.
Causes
Some reasons a person might not have a bank ...
and
underbanked The underbanked is a characteristic describing people or organizations who do not (or volunteer to not) have sufficient access to mainstream financial services and products typically offered by retail banks and thus often deprived of banking servic ...
individuals who do not have access to
credit cards or
bank accounts.
By utilizing
mobile devices
A mobile device (or handheld computer) is a computer small enough to hold and operate in the hand. Mobile devices typically have a flat LCD or OLED screen, a touchscreen interface, and digital or physical buttons. They may also have a physical ...
, Mopay was available worldwide. Mopay connects to
mobile operators in over 80 countries. It handles the digital purchases of over 400 customers, reaching 3.3 billion people.
See also
*
Mobile commerce service provider
*
Smscoin
*
Fortumo
Fortumo was an Estonian company which developed a platform for digital service providers for user growth and monetization.
Fortumo's products allowed digital merchants to acquire new users through telco bundle partnerships and collect payments ...
*
Zong mobile payments
Zong was a mobile payment company that allowed users to make micropayments on the Internet if they have a postpaid mobile phone. The payments were charged to their mobile phone bills by the mobile operator. The company was acquired by eBay in 201 ...
References
{{Mobile payments
Mobile payments
Payment service providers
2003 establishments in Germany
Companies based in Palo Alto, California