Anam banks on SMS money transfer

SMS applications developer Anam Mobile, announced a partnership with mobile payment services firm TR2 Communications on Monday, as the duo launch a global SMS-based money transfer service.

There is a ready market of consumers seeking cheaper, faster, more reliable and more accessible ways to get money to family and friends elsewhere, particularly in developing markets, where mobile growth is at its strongest. But Anam is not just targeting the developing markets and the migrant worker space, it also believes there is healthy potential in mature markets where there is still money to be made from SMS.

“There is still plenty of potential left in SMS,” said Jote Bassi, marketing director at Anam. “Its usage continues to rise and operators are beginning to see opportunities to make money out of what they already have, rather than focusing on pushing users on to new platforms.”

The SMS Money Transfer service claims an intuitive three step procedure for sending money straight from the address book to friends and family both locally and overseas.

Bassi told telecoms.com that operators are continually promised novel data services that will create new revenue streams but these services usually mean a complete shift in consumer mobile behaviour resulting in slow uptake, or no uptake at all. Anam said it is intending to tap into existing consumer mobile behaviour, while complementing incoming services such as mobile banking.