Mobile payments are now truly a reality as Luup launches
the first universal mobile payments platform. The launch is the result of
the integration of the Temenos T24 core banking application and Microsoft
BizTalk with Luup’s mobile payment services platform.
“We believe that Luup’s new payment platform heralds
a major shift in the mobile payments sector. Through Luup, banks have the
opportunity to serve corporate and retail markets using a single universal
mobile payments platform. They can now offer mobile payment services in
developed and emerging markets anywhere in the world through any mobile device
and on any network. This is an industry first,” said Martin Wilson,
The integration of market leading applications with
Luup’s platform enables Luup to provide the most advanced mobile payments
managed service available. It combines the scale to deal with large
transaction volumes with the mission critical standards that banks require to
meet regulatory and security requirements.
For its solutions Luup has
further developed leading technology from Temenos and Microsoft, including
Microsoft BizTalk, to provide several business-enhancing functions.
“T24 is the most technically advanced core
banking system available, used by hundreds of banks worldwide. Its
integration into Luup’s universal platform for mobile payments means
that financial institutions now have the unprecedented opportunity to get
the mission-critical standard they expect – on the ubiquitous mobile
channel,” said Mark Gunning, global director, Banking Solutions at Temenos.
This co-operation between Luup and Temenos creates the
most flexible, cost effective and scalable mobile solution on the market, which
enables Luup’s customers to meet the challenges and opportunities of
tomorrow,” Gunning added.
In addition, Luup’s managed service model enables banks
to implement the service easily and at low cost and to scale-up as customers’
demand for mobile payments increases even further. There are already over 5
billion mobile phone users worldwide and the figure is constantly growing.
Luup operates in developed and emerging markets, and
offers financial institutions and corporates the opportunity to reduce costs
and introduce new income streams. In global markets, Luup enables banks to
offer new mobile services for their corporate customers, whilst amongst large
unbanked populations in emerging countries, a branchless mobile banking service
is being created to address the financial inclusion agenda.
By Telecomlead.com Team