The ability to transfer funds between two parties is one of the most essential and sought after services in the mobile money ecosystem. The convenience, privacy, safety, reliability and low cost of transferring money between two mobile phones have a broad appeal to people in all walks of life. Fortunately, mobile money transfer is relatively easy for operators to implement and can quickly be adapted to local regulatory requirements.

With Trivnet, customers can use their mobile phones as affordable, secure and always available means to transfer money. These person-to-person transfers are most often cheaper than bank transfers and informal money transfer services and undoubtedly more convenient. MNO-enabled money transfer between family members, friends, enterprises and employees, governments and citizens, businesses and suppliers is changing the way people around the world gain access to money.   

The TRIV Platform™ allows customers to complete money transfers directly from the mobile phone, by sending a simple command specifying the amount to transfer and the recipient’s mobile phone number. Customers can select the recipient from their list of contacts or create a shortlist of buddies – people they most often send money to – for easy selection.

While banked populations transfer funds from their bank accounts, credit cards or prepaid cards, the unbanked draw the funds from a stored value account – an in-system account that stores cash deposits and money received through the mobile money system. Trivnet enables a multi-level network of mobile agents to serve as cash in/cash out posts, converting cash to electronic funds and vice versa. A rich mobile money ecosystem allows the transferred money to be spent on airtime top-up, bill payment and merchant payments and diminishes the need to cash out frequently.

With the Trivnet-enabled remittance service, migrant workers can securely and instantly send money back home without losing a high percentage of their wages on transfer fees. The low cost of the service encourages frequent deposits of small amounts sent to multiple recipients, giving the sender more control on the way funds are spent. Senders may even top-up remote phones or pay bills on the receiving end.

The mobile wallet does not have to reside on both sides of the remittance corridor. Through its partnerships, interfaces and settlement technology, Trivnet connects mobile senders to traditional international money transfer services. In the same manner, Trivnet connects senders using traditional channels to mobile recipients.