The Qtel Group to Launch Mobile Money Services

The Qtel Group announced plans to make Mobile Money services available for customers across its international operations at the Mobile World Congress in Barcelona today.

 

With its regional footprint covering 17 countries, and more than 53 million customers, The Qtel Group is confident that it will generate strong demand for these services. In particular, with millions of dollars remitted from the Gulf region to Asian countries every year by expatriate workers, executives are confident that Mobile Money will have important social as well as financial benefits.

 

Among the services being developed as part of The Qtel Group’s mobile money proposition are secure international mobile remittance, mobile payment and mobile recharge facilities.

 

Because of its unique footprints, The Qtel Group believes it can become a prime provider of these services, both to existing customers within its network, and to people within the scope of its remittance corridor coverage.

 

Dr. Nasser Marafih, Chief Executive Officer, The Qtel Group, explains: “There is a significant community of under-banked and un-banked segments in the Middle East, North Africa and Asia, and Mobile Money services will play an increasingly important role in addressing their needs. With our presence across this region, and strong connectivity with key remittance markets such as India, Indonesia and the Philippines, we are confident that The Qtel Group can play a key role in delivering Mobile Money services in a compelling and cost-effective manner.” 

 

Research from leading group Gartner suggests that more than three billion of the world’s adult population will be able to transact electronically via mobile or other Internet-based technology by 2014. At the same time, advances in mobile payment, commerce and banking are making it easier to electronically transact via mobile phone.

 

Money transfer is already of critical importance in Asia, the Middle East and Asia. For expatriate workers, remittances provide a vital link to ensure the stability of families back home, and many economies benefit significantly from the process.

 

India, for example, is one of the world's biggest recipients of remittances, alongside China, with the total value of remittances reaching about US$50 billion by 2008. The total value of remittances to the Philippines was a record-setting US$16.4 billion in the same year.

 

With a network of operations in key Gulf markets, North Africa, Southeast Asia and the Asian subcontinent, The Qtel Group is confident that it can leverage both scale and synergies to deliver an attractive and cost-effective service, and add a range of more sophisticated services as the facility evolves.

 

Dr. Nasser concludes: “The Qtel Group has developed a strong understanding of the needs of our diverse customer base, and our research demonstrates that Mobile Money services are among the most eagerly-anticipated across multiple markets. Our aim is to be among the leading companies in this field within the next few years, supplying the most reliable and cost-effective range of Mobile Money payments to millions of our customers.”