Nokia Siemens Networks and MoreMagic Solutions Partner to Deliver Mobile Commerce and Financial Services

BARCELONA, Spain, February 14, 2011 /PRNewswire/ --

Nokia Siemens Networks and MoreMagic Solutions, a leading global mobile commerce and financial services solutions provider, today announced a global partnership to provide mobile commerce and financial services. The jointly developed Mobile Payment Solution enables the delivery of a wide range of services including money transfer, mobile banking, mobile payments and near field communication (NFC) proximity payments.

The joint Mobile Payment Solution interconnects consumers, mobile operators, financial institutions, retailers, agents and other members of the mobile commerce and financial services value chain to enable seamless monetary transactions. The approach is particularly attractive for developing markets where fewer people have access to bank and credit cards to transfer money.

Rick Centeno, head of charging, billing and care at Nokia Siemens Networks said: "We are very excited about the growth in the mobile payments space in general and about mobile money and NFC payments in particular. Our partnership with MoreMagic provides us with a flexible architecture that integrates very well with our flagship products. The combination of MoreMagic solutions with Nokia Siemens Networks' integrated Subscriber Data Management, Identity Management and Unified Charging provides a comprehensive set of Mobile Payment Solutions in this innovative market segment."

Pankaj Gulati, CEO and Chairman, MoreMagic added: "Mobile commerce and financial services present some of the most exciting opportunities available today which are totally revolutionizing the way people interact with cash and manage their finances. We are delighted to be partnering with Nokia Siemens Networks and look forward to the evolution of mobile payment services."

LPTIC (Libya Post, Telecommunications and Information Technology Holding Company) is trialing Mobile Payment Solutions in close collaboration with Al Madar and Libyana, the two leading mobile operators in Libya. LPTIC plans to extend mobile payments as a service to all mobile operators across Libya as an enhancement to its operations. The Project which is set to run over a period of four months, will provide customers with easy, secure and convenient access to basic financial services which has previously been enjoyed only by a small percentage of the population and access to NFC proximity payments for purchasing anywhere at anytime.

Dr. Samir Elbuni CEO of LPTIC said, "We are delighted to bring state-of-the-art mobile payments technologies to Libya through internationally recognized partners. We believe that the market is primed for such a solution and we expect a huge acceptance in the market by mobile-savvy consumers."

Nokia Siemens Networks

Nokia Siemens Networks is a leading global enabler of telecommunications services. With its focus on innovation and sustainability, the company provides a complete portfolio of mobile, fixed and converged network technology, as well as professional services, consultancy and systems integration, deployment, maintenance and managed services. It is one of the largest telecommunications hardware, software and professional services companies in the world. Operating in 150 countries, its headquarters are in Espoo, Finland.

MoreMagic Solutions

With deployments in more than 60 countries worldwide, MoreMagic Solutions offers transaction platforms for mobile operators, financial institutions, content providers, and distributors, enabling consumers to purchase goods and services on demand using a mobile phone, POS, or web. The MoreMagic Solutions high-throughput mobile commerce and services (MCS) platform and pre-packaged applications in the MagicSuite(TM) portfolio enable revenue-generating services, including mobile recharge (m:TopUp) and mobile money transfer (m:Wallet), both domestic and international; mobile banking; bill payment; and mobile commerce; with integration into diverse network environments, languages, and currencies. Through MoreMagic Solutions' worldwide distribution network connected to the MoreMagic Global Financial Services Hub (MagicHub), mobile operator branded services are available for out-of-country customers, enabling communications with relatives back home, and increased usage on mobile networks worldwide.