COBIS Payments is an innovative solution to manage money transfers. There are new forms of electronic money available that can circulate through mobile phones, and aren’t tied directly to banks and their clearing processes. This allows the unbanked to participate in the financial system, and is a convenient method for the banked sector to make transactions as well.
Our solution allows transfers to be made in a variety of ways:
- Account to account: From one bank account to another
- Account to mobile: This allows a transfer to a mobile phone account, that you can use for purchases and transfers instead of using cash, credit, or your bank account
- Account to customer*: This comes from a bank account and goes into a customer’s holding account
- Customer* to account: This comes from the customer’s holding account and goes into a bank account
- Mobile to mobile: An example would be that you are taking a taxi and want to pay using your mobile device. You simply transfer the funds to the taxi driver’s mobile phone
*The “customer” is tied to an email address, a Facebook account or the like (similar to PayPal) where the funds are held until they are distributed to a linked mobile or bank account.*