Swissclear Global, a Singapore-based service provider for over 200 mobile carriers, announced on Wednesday the launch of its airtime recharge service. The new system will allow its customers to easily recharge the airtime of their mobile phones, or to send airtime to family and friends at their convenience.
“Swissclear Global offers travelers and overseas workers the ability to communicate with family and friends wherever they are, with no service charges added on, making lower denomination transactions affordable,” Sandy Agarwal, founder and CEO at Swissclear Global, said to Yahoo. “The benefits of the service to customers are savings on service fees, greater convenience and fast transaction times. Consumers in emerging economies should have access to the same levels of service as more developed markets.”
In order to protect its growing consumer base, Swissclear will be aided by CyberSource – a payment management company and subsidiary of Visa, Inc. since 2010 – in order to detect fraud and increase process efficiency.
“We provide an environment which builds confidence and encourages online purchase in a secure, reliable, and convenient manner benefiting merchants and consumers alike,” said Steve Warner, senior business leader for CyberSource. “We are delighted to partner with Swissclear…enabling business across the globe to transform their vision into results through increased security and reduced payment risk is of the utmost importance.”
According to Yahoo, sales for prepaid airtime crossed $460 billion in 2011. Swissclear Global plans to create a network of kiosk terminals, and plans for setups in India, the Middle East and the United States for the future.
“Between 70 to 90 percent of mobile subscriptions in emerging markets are prepaid,” said Agarwal. “In a time where more people are traveling or moving away from home, there is a greater need to stay connected.”
Edited by Braden Becker