March 8, 2017
Telepin acquired by Volaris Group
Plans to expand international mobile financial services to meet booming market demand
OTTAWA, ON -- Telepin Software, a global leader in digital financial services platforms, has been acquired by Volaris Group. The company continues to be led by Vincent Kadar, Telepin's CEO, with oversight from Volaris.
"With the support of Volaris we are eager to grow our business further in our core markets and to expand our presence in other high growth digital financial services economies internationally. We are excited about Volaris' long-term commitment to our market and the best practices and synergies available within its emerging communications vertical," said Vincent Kadar, CEO of Telepin. "We believe that Volaris has the unique capability and capacity to invest in accelerating our growth, evolving our product-line, expanding our services and support capabilities worldwide, and provide stability and opportunities to our international employee and customer base."
Telepin's unique software and services help mobile operators and innovative financial service providers deliver robust digital financial service offerings to their subscriber and merchant customers that enable digital commerce transactions between consumers, merchants, businesses, and governments. The software plugs seamlessly into existing infrastructure, leveraging the investments already made in charging systems, replenishment systems, legacy banking platforms, and value added service delivery platforms.
Telepin recently announced deployments of its mobile money solutions with an innovative financial institution Wing Money in Cambodia, mobile network operator Mascom Wireless in Botswana and a licensed Money Services Business (MSB) that provides multi-country international remittance services and an approved issuer of e-money Valyou Mobile Wallet in Malaysia. The company is currently enabling over 45 million digital wallets across all its customer networks, processing over 50 million transactions per day.
Mobile money facilitates access to financial services, many of which contribute to building the resilience of the poor by reducing their vulnerability to economic, social and environmental shocks and disasters. Thirty countries now have ten times more active agents than bank branches, bringing mobile money within reach to millions of unbanked households. A recent GSMA report assessing the opportunities of mobile in international remittances found that using mobile money is, on average, more than 50 percent cheaper than using global money transfer operators.
Telepin is headquartered in Ottawa, Canada with regional presence in Egypt, Tanzania, Malaysia, and Singapore.