Atlanta, Georgia International mobile banking solution provider, M-Com, announced today that usage for its mobile person-to-person (P2P) payments technology is growing at a rapid pace. “Our customers across M-Com’s commercial P2P deployments are seeing significant demand growth,” comments M-Com CEO, Adam Clark.  “A significant proportion of registered mobile bankers are already active and regular mobile P2P payers, with an average transaction value of about $240.  About 40% of those are informal and personal in nature, 40% are for payments to small merchants such as plumbers, and the rest are for payments of goods exchanged by individuals through mechanisms such as eBay.  Better still, both transaction volumes and transaction value are growing disproportionately faster than the general adoption of mobile banking services.” Mobile person-to-person payments are a core component of M-Com’s BankAnywhere platform.   Unlike other offerings in the market-place, BankAnywhere is the industry’s only integrated and complete mobile banking and payments product.  BankAnywhere is the only solution proven to simultaneously deliver mobile; biller, point-of-sale, remote merchant, international remittance and domestic person-to-person payment services.  These services are delivered through integrated SMS (text messaging), Mobile Browser and Downloaded Application user interfaces, enabling ‘universal reach;’ the ability to operate on any device on any mobile network. M-Com currently supports P2P payment services through financial institutions in a number of countries in the Asia-Pacific region and has done so since 2007.  “The research we have carried out confirms the appetite from consumers to adopt personal payments on their mobile phones, and we predict such functionality will not only retain but also expand the customer bases of banks and credit unions” says Nick Holland, Senior Analyst from research firm Yankee Group. “Not only are P2P payments satisfying consumer demand, but the financial institutions that deploy M-Com’s capabilities are already seeing new sources of value from mobile payments,” Clark continues. “New revenue streams make it easier for banks to validate the business case for further investments in the mobile channel.” Earlier this month, ANZ announced that its mobile person-to-person payment service – ANZ goMoney (http://www.anz.com/gomoney/) – was powered by M-Com’s BankAnywhere platform.   About M-Com:  Headquartered in Atlanta, GA, M-Com is an international mobile banking and payments solution provider with live Fortune 500 banking customers across Asia Pacific, the Middle East, Europe and North America.  M-Com’s core proposition is centered on helping financial institutions and payment processors deliver world class adoption and revenue metrics from the mobile channel.   For more information, visit www.mcom.co.nz. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

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