21 March 2008
Cyphermint's Technology Heads to Ghana
Cyphermint's Technology Heads to Ghana
Cyphermint, Inc., a leading provider of secure mobile and electronic payment solutions, announced today that its PayCash Mobile™ platform has been selected by Afric Xpress Services Inc. to provide the consumers in Ghana with the mobile solution, txtNpay™
Cyphermint and Afric Xpress collaborated to customize the PayCash Mobile application to meet the unique requirements of the Ghana market. This partnership complements similar mobile commerce initiatives in development by Cyphermint for the North American, Latin American and Asian markets.
Afric Xpress' launch of txtNpay will enable 7 million Ghanaian cell phone subscribers to conveniently shop, top-up phone accounts, transfer funds and pay bills using their cell phones. The introduction of txtNpay in Ghana is a gateway for Afric Xpress, which plans to extend its mobile wallet offerings to additional African markets. The Afric Xpress and Cyphermint partnership will support fast, easy and reliable mobile payment options for various financial transactions in these markets.
According to Nvalaye Kourouma, Chief Executive Officer for Afric Xpress, "The vision for txtNpay is transformational. We wish to advance how transactions are performed in Ghana, and by doing so contribute to the establishment of a dynamic m-commerce market in the country. Cyphermint's mobile wallet technology meets the demand of customers who are looking for a faster and more convenient way to purchase goods and services as well as securely process other financial transactions using their mobile devices. Through our partnership with Cyphermint and their PayCash Mobile application, Afric Xpress is bringing innovation supported by tested experience to Ghana. We look forward to doing the same in other African markets in the near future."
PayCash Mobile software enables consumers to securely conduct bill payment, person-to-person transfers, mobile top-up and retail payments around the world. PayCash Mobile is designed to enable cash loading, credit, debit, stored value card and bank funding of client accounts. Users access their mWallet through an SMS or WAP interface. Transactions are server-side processed through the robust, highly secure PayCash infrastructure.
"We are very excited to partner with Afric Xpress on providing mobile payment services in Ghana,” said Joe Barboza, President of Cyphermint. “Afric Xpress’ txtNpay mobile wallet is a pioneering product for Ghana, strengthening a portfolio of global joint initiatives that Cyphermint is developing."
About Cyphermint, Inc.
Headquartered in Marlborough, Mass., Cyphermint is a provider of Global Electronic Cash Payment and E-commerce solutions. Cyphermint’s patented technology, PayCash, is used in three major areas: (1) The PayCash Mobile technology for financial transactions on cell phones (2) Kiosk Solutions - delivering web-enabled highly secure self-service B2C merchandising systems, and (3) PayCash Internet Payments providing un-banked consumers access to financial services such as Internet shopping, bill payment and debit cards. Cyphermint’s software solutions provide highly secure, highly scalable web-enabled transactional, services to merchants and consumers on the Internet, self-service kiosks and on cell phones, smart phones and Internet-capable PDAs.
About Afric Xpress, Inc.
txtNpay™ is a product of Afric Xpress Services Inc, a New-York based company. The product is offered in Ghana by Afric Xpress Ghana Ltd, a Ghana registered company. The company’s mission is to bring innovative mobile payment solutions to Africa in order to create an extensive electronic payment network and a dynamic mobile commerce market. Afric Xpress is managed by a team of seasoned professionals who combines multinational experience with a solid understanding of African markets and expertise in building and growing international ventures.