Following the August announcement that eONE Global would acquire Brokat Technologies` mobile business unit, the former has announced it will name the business Encorus Technologies.
The company will embark on an extensive re-branding campaign once the acquisition has closed following shareholder approval in mid-November.
Speaking at a presentation in Sandton this morning, Clint Wilson, EMEA sales director for Brokat Technologies, said the company focus will remain on working closely with merchants, mobile carriers and consumers to create open standards for mobile commerce.
Wilson believes a number of market factors will influence the success of mobile payment solutions locally, including the significant percentage of the population which, though unbanked, are already contributing to the prepaid mobile communications industry.
The cash-based culture in SA means local financial service providers haven`t been able to tap into this market, said Wilson, largely because of a lack of trust. However, mobile operators have already bridged the gap to create trust in consumers that were previously untouched.
Other opportunities for the delivery of value-added financial services across a mobile platform, he said, lie in the SME market. Identifying the right business models is not going to be easy, noted Wilson, but those who want to play in this market need to be able to roll-out services as soon as possible.
eONE Global describes itself as an innovator in identifying and developing emerging payment technologies, and is majority owned by First Data, ostensibly the world`s largest payment processor.
Encorus will focus on facilitating digital content micropayments, and secure Internet macropayments with debit or credit cards, expanding into person-to-person payments and point-of-sale macropayments during the first half of next year.
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