SmartPay enables mobile subscribers to receive, send and spend money, for which the simplest application is payment and top-up of mobile phone bills. Users register for the service, and are alerted when their prepaid account is low, or when payment is due via SMS. SmartPay also processes payments for digital cards, utility bills and lottery tickets.
SmartPay says its users and merchants can enter their mobile phone number and a password to complete a transaction rather than use credit card numbers and expiration dates.
Already, SmartPay has processed billions of transactions. The mobile phone will do for money, what the iPod has done for music, making it instantly accessible and personalized, and SmartPay is glad to be partnering with CMBC to broaden the reach of these services, commented Greg Shen, CEO of SmartPay.
