Mexico soon to go
mobile

Mexico has taken the first step towards introducing mobile banking
with the forging of a working agreement between Mexican payments
processor Promoción y Operación SA (PROSA) and Canadian payments
software vendor CPNI. Under the terms of the agreement, PROSA will
provide Mexican financial service providers with a centralised
mobile banking payments processing infrastructure that will run on
CPNI’s Phone Authorized Transfer (PAT) mobile payments
platform.

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CPNI’s solution offers three distinct mobile banking
functions:

· PATsend: enables bank customers to transfer money from their bank
account to another person’s bank account domestically or
internationally. The sender uses the recipient’s telephone number
to identify them;

·  PATbuy: enables users to pay for products or services from
participating merchants; and

·  PATbank: enables bank customers to perform a variety of
mobile banking tasks including bill payment, viewing statements and
viewing account balances.

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To access the mobile platform, customers download an application to
their mobile phone. To transact, they provide the recipient’s phone
number, select a bank account and enter the transaction
amount.

Commenting on its agreement with PROSA, CPNI’s chairman and CEO,
Patrick Bird, said $25 billion in remittances flowed into Mexico
last year, an amount that does not include undocumented money
transfers. “PAT gives banks an innovative way to reclaim ground
lost in this market and compete against alternative money transfer
organisations, while also providing mobile banking services and a
new way of making merchant purchases,” said Bird.

According to PROSA, it processes more than 1.3 billion transactions
annually, making it Latin America’s largest payment processing
service. Its POS customer base includes American Express, Visa and
MasterCard, while its ATM customer base includes banks such as
HSBC, Santander, Scotiabank, Banorte, Banjercito and Banca
Afirme.