GSMA introduces Mobile Money Exchange

Global trade group the GSM Association announced the launch of its Mobile Money Exchange initiative, promising assistance for financial services firms looking to enter the mobile marketplace. According to the GSMA, the Mobile Money Exchange effort was introduced to engage with new stakeholders and sectors entering the mobile ecosystem, offering them a common voice and formal business forum for corporate collaboration, highlighted by an online knowledge portal complete with social business networking and community functionality.

The GSMA notes that the Mobile Money Exchange program is open to any organization and will strive to establish a broad-based stakeholder community that spans m-payments, m-banking, mobile money transfers and efforts to serve unbanked subscribers. An advisory board consisting of wireless industry thought leaders will work alongside discussion groups and committees to establish guidelines, standards and best practices. In addition, the GSMA announced that payment and credit solutions giant Visa and Philippines communications provider Globe Telecom are the Mobile Money Exchange's first two founding partners.

For more on the Mobile Money Exchange:
- read this release

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