YellowPepper, a provider of mobile financial services in Latin America, has launched YellowPepper Mony, a mobile financial product for the unbanked, as part of a strategic alliance with Fundamo.
YellowPepper said that the new YellowPepper Mony enables financial institutions and corporate clients to deliver secure accessible financial services to consumers, such as mobile money transfers, international remittances, mobile bill payments and pre-paid cell phone service.
In addition to YellowPepper’s current ability to connect banks, consumers and retailers through money transfers, bill payments, SMS notifications, and pay-as-you-go mobile transactions, this new offering will target the 80% of Latin American residents who currently have a mobile phone and the vast numbers of consumers that are currently unbanked.
Rafael Russ, YellowPepper’s CEO, said: “Now, more than ever, mobile financial solutions are critical to Latin America. We chose to partner with Fundamo because it is the leading M-wallet solutions provider, with more deployments than any other organization in the world. Together, we are creating solutions for residents of Latin America that will improve their daily lives.”
Hannes Van Rensburg, Fundamo’s CEO, said: “The launch of YellowPepper Mony represents the first deployment of a fundamental, transformational technology in Latin America, serving the unbanked population. This launch also signifies the collaboration between two strong mobile financial services companies, striving to provide life-changing mobile financial products to the people of Latin America.”
