Etisalat Group, the leading telecoms operator in the Middle East, Africa and Asia, won two awards for the roll out of innovative mobile commerce solutions at the Mobile Money Global Awards.
“We are delighted to win this award as it is recognition that Etisalat is spreading the benefits of mobile finance to under-banked communities all over the world,” said Khalifa Al Shamsi, Chief Digital Services Officer at Etisalat Group. “Mobile commerce encourages economic growth and that leads to more jobsand better standards of living, and entire communities are benefiting from innovative telecoms products such as this throughout Etisalat’s global footprint.”
Etisalat and MasterCard won the award for “Best Mobile Money Deployment in the Middle East” for the launch of Flous in Egypt, and Etisalat won in the “Best Bank Led Mobile Money Programme” category for a new innovative mobile commerce solution in Pakistan. Etisalat is already offering mobile commerce services in 10 operations of the group.
Flous, which means “money”, spreads the benefits of finance by enabling customers to use their mobile phones like digital wallets to pay for goods and services, transfer money to friends and family, withdraw and deposit cash, top up mobile phones and manage bank accounts.
Customers who sign up can use their phones like debit cards with a virtual account. The service, which requires a password for each transaction, is designed to give security and flexibility, giving users access to money 24 hours-a-day, seven days-a-week.
“We are very pleased to receive this award and be recognized for our efforts to further financial inclusion in Egypt and the region,” said Aaron Oliver, Head of Emerging Payments, Middle East and Africa, MasterCard. “MasterCard is committed to the Middle East region, and our collaborations with Etisalat in Egypt have provided the market with payment solutions that meet the needs and expectations of all consumer segments.”
He added: “MasterCard congratulates Etisalat for being among the first movers in Egypt to leverage this landmark solution and creating a world of opportunities for underserved communities.”
Earlier this year, Flous won the “Best Near Field Communication/Mobile Money Product” category at the GSMA’s prestigious Global Mobile Awards during the Mobile World Congress in Barcelona, Spain. Last month, the service was nominated by the Financial Times and the World Bank for the 2013 Global Sustainable Finance award.