MOBIbucks, a US-based mobile payments provider, has launched its MOBIBanker mobile banking app in the Middle East.
The app, which works with any mobile phone, is based on the MOBIbucks patent-pending technology platform that allows mobile payments by using just a phone number and PIN.
The platform provides an all-in-one mobile payment solution for banks and financial institutions. The app integrates with financial institutions' existing applications and can be customised to suit different brands.
The app allows users to view their account, transfer money between linked accounts or to third-party accounts and pay bills. Customer can create a “virtual card” through their bank account and use their phone number and pin to pay for goods or services. It also allows real-time account alerts and notifications to be sent to the end user.
“The bank of today is not as our grandfather’s bank,” said Ziad Al Shobaki, managing director, emerging markets, MOBIbucks.
“Today’s techno-savvy, on-the-go customers rarely visit a branch in person. They rely on convenient, virtual tools that can be accessed anytime, anywhere. The time has come for all financial institutions – whether large or small -- to go mobile.”