SOURCE: Shaka Mobile

May 04, 2010 01:17 ET

Shaka Mobile and MFunds Global Payment Solutions Enter Into a Strategic Partnership to Offer Mobile Money Transfer to Diaspora Africans in the US

LAS VEGAS, NV--(Marketwire - May 4, 2010) -   Shaka Mobile, the first prepaid mobile service for African immigrants in the US, has successfully launched in partnership with MFunds Global Payment Solutions™, a Mobile Money Transfer (MMT) service.

Diaspora Africans, who are using Shaka Mobile prepaid mobile phone in the USA may now send and receive money straight from their mobile phone. Diaspora African customers in the US will receive a "primary" card and can order "family" cards that they can send to their friends and relatives. The Diaspora Africans can load money onto their primary card account via direct deposit, transfer from a checking or savings bank account, and with cash through selected merchants, thus effectively providing the ability to send money to the family cards from their mobile phone through the WAP or SMS messaging. Transactions are processed in real-time through MFunds Global Payment Solutions' secure platform; both sender and receiver are immediately notified by SMS.

"We are pleased to partner with Shaka Mobile to offer innovative services and expand our footprint to the Diaspora Africans in the US. And we are looking forward to building a custom MMT eco-system for this niche market," said Jim Hammer, President, MFunds Global Payment Solutions™.

"With the Mobile Money Transfer service, Shaka Mobile is now offering an unmatched value proposition to Diaspora Africans. The service will complement our wireless voice and cross-border airtime top up services making it easier for our subscribers to stay in touch and support their family/friends back in their home countries," says Dhidha Timona, President Shaka Mobile. Diaspora Africans send approximately $40 billion to their home countries annually.

Shaka Mobile and MFunds Global Payment Solutions are building a Mobile Money Transfer eco-system in key corridors for the Diaspora Africans based in the US. Mobile Money Transfer has been gaining a lot of traction in Africa and the under banked populations worldwide.

About MFunds Global Payment Solutions™
MFunds Global Payment Solutions™ is a global commerce and financial solutions company. For more information, please visit the following website: http://www.mfundsllc.com/ 

About Shaka Mobile
Shaka Mobile is the first prepaid mobile services company offering tailored plans to Diaspora Africans in the US. For more information, please visit the following website: www.shakamobile.com.

Contact Information