M-Cash negotiates service with Brazilian
banks veículo:CMA
News
data:16/10/06
M-Cash, a company focused on electronic
commerce, will offer services through HSBC Brazil still
this year and is negotiating with other financial institutions.
To promote the product the company closed deals with two
e-commerce stores in the country: Americanas.com and Sack's.
The company expects to generate a volume of 20 million
mobile payment transactions in Brazil in 2007.
CMA News
M-Cash, a company focused on electronic
commerce, will offer services through HSBC Brazil still
this year and is negotiating with other financial institutions.
To promote the product the company closed deals with two
e-commerce stores in the country: Americanas.com and Sack's.
The company expects to generate a volume of 20 million
mobile payment transactions in Brazil in 2007.
M-Cash is a system which allows a cell
phone to be used as a buying tool, a kind of wireless
debit or credit card.
"The initial focus will be e-commerce, but M-Cash
users will be able to use their cell phones to buy and
pay in any store worldwide in the near future," said
the president of M-Cash, Gastão
Mattos.
According to the executive, there are no technological
impediments to the use of M-Cash in any
prepaid or postpaid cellular telephones. M-Cash
has invested R$10 million in technology development.
M-Cash's interest in mobile payment is
endorsed by studies worldwide. According to a research
conducted by Juniper Research retail mobile services,
such as the purchase of products over cell phone, will
generate US$63 billion in the mobile market worldwide
until 2010.
