August 24, 2019
Mauritius Prime Minister, Honourable Pravind Jugnauth, has today launched the Indian Ocean island nation’s first national mobile payment solution in the capital city Port Louis. Based on the proven Tap & Go mobile payment service in Hong Kong, Mauritius Telecom’s my.t money is a mobile payment solution provided by PCCW Global.
Mauritius Telecom’s my.t money mobile payment solution helps to close the digital divide by facilitating both payment and non-payment transactions through a mobile application platform that offers a rich digital lifestyle experience beyond traditional payment services. Key elements of a cashless society can be integrated into the platform, including education, commerce and finance, transportation and government social welfare initiatives.
In addition, the service has the ability to address the “unbanked” portion of the population with accessible financial services and applications that run on both modern and older phones and networks.
Speaking of his company’s vision in launching this service, Mr. Sherry Singh, Chief Executive Officer of Mauritius Telecom, said, “In terms of vision and ambition, Mauritius Telecom is not just launching another service. We intend to positively disrupt the payments industry. my.t money seeks to make payment fast, simple and fun. 200,000 customers have already signed up and at launch we already have 1,000 merchants and more than 200 loyalty partners.”
The market-proven Tap & Go mobile payment service upon which my.t money is based was first launched in Hong Kong in 2015 by HKT Payment Limited, an affiliate of PCCW Global and a holder of a Stored Value Facilities license granted by the Hong Kong Monetary Authority. PCCW Global’s experience and expertise in the development and launching of mobile payment services was made available to Mauritius Telecom both prior to, and during, the development of my.t money, which greatly assisted in ensuring a smooth and efficient product development process.
The solution itself is cloud-based with local hosting for sensitive customer data, while mobile apps and the payment engine can be localized or delivered internationally. The my.t money chip card is compliant with the Europay Master and Visa (EMV) security standard and the solution design follows best practice security standards.
In addition to Tap & Go mobile payment service, PCCW Global will also provide international network connectivity, system installation and integration, supply of Point of Sale (POS) equipment, and the management of native cloud applications to Mauritius Telecom. The IT environment is also specifically compliant with General Data Protection Regulations (GDPR).
For greater resilience, reliability and remote support purposes, the my.t money service is also connected to PCCW Global’s advanced international network which spans 160 countries and has Points of Presence (PoPs) located in cities throughout Europe, Asia, Africa and the Americas. The network is further complemented by 188 worldwide wholesale partners that expand network reach to even more locations.
PCCW Global has recently assisted numerous worldwide customers to implement digital transformation initiatives, including international connectivity, FinTech, smart cities, smart buildings, Internet of Things, Big Data Analytics, cloud, and orchestration projects.
Mr. Marc Halbfinger, Chief Executive Officer of PCCW Global, said, “When combined with a high-speed, robust and secure global network, our FinTech experience in Hong Kong places us in an ideal position to work with ICT service providers in rolling out cutting-edge mobile payment solutions anywhere in the world. It is exciting to think of all the new possibilities and opportunities this service can bring to a connected world.”