Mobile Financial Technology

Canada Mobile Payments Partners with telecom companies, banks and other organizations that are well positioned to leverage this leading edge platform to deliver a broader range of value added services to their clients while adding significant incremental revenue streams.

Whether they are Banks or Telecommunications companies, our goal is to enable our partners to drive incremental revenues through our leading edge, compliant and secure technology platform.

Mobile Financial Services

The mobile financial services sector continued to expand in 2014, boosted by the creation of more enabling regulatory frameworks in several markets. With 255 mobile money services in operation across 89 countries, mobile money services are now available in over 60% of developing markets.

Active mobile money accounts stand at 103 million as of December 2014 (up from 73 million in 2013).  In terms of transaction volumes, the fastest growth in 2014 occurred in:

  1. bulk disbursements
  2. bill payments
  3. merchant payments

This reflects an expanding ecosystem of institutional and business users of mobile money.  These transactions represented nearly a quarter (23.1%) of all the value processed through mobile money systems globally in December 2014, demonstrating the growing importance of mobile money as a payments channel for goods and services.

Platform Profile

  1. Leverage our global distribution, Agent network including retailers, and customer base to offer mobile payments and domestic money transfer services across mobile devices.
  2. Offer use of platform to strategic partners to leverage their large consumer bases to offer mobile payments and banking services – Telecom companies, banks, other companies.
  3. Leverage the backbone of the Platform to offer these additional services in a compliant and secure manner that meets the regulations of each individual country.

Canada Mobile Payments uses Interchange message specifications (International Organization for Standardization- ISO 8583) standard for systems that exchange electronic transactions made by cardholders using payment cards.

  • A card-based transaction typically travels from a transaction acquiring device: point-of-sale terminal or an automated teller machine (ATM), through a series of networks, to a card issuing system for authorization against the card holder’s account.
  • The transaction data contains information derived from the card (e.g., the account number), the terminal (e.g., the merchant number), the transaction (e.g., the amount), together with other data which may be generated dynamically or added by intervening systems.
  • The card issuing system will either authorize or decline the transaction and generate a response message which must be delivered back to the terminal within a predefined time period.

ICMP Mobile Technology

The Internet Control Message Protocol (ICMP) is one of the main protocols of the Internet Protocol Suite. It is used by network devices, like routers, to send error messages indicating, for example, that a requested service is not available or that a host or router could not be reached.

An ICMP is a message control and error-reporting protocol between a host server and a gateway to the Internet.  This is a newer form of mobile payments from merchant acquirers.  The ICMP connects Bluetooth to smart device enabling merchants to process payment transactions for debit & credit cards.  Canada Mobile Payments is a leader in Financial Technology for Toronto, Vancouver, Calgary, Edmonton, Montreal, Winnipeg, Mississauga, Markham, Richmond Hill, Vaughan, Woodbridge, Ajax, Pickering, Brampton, Burlington, Oakville, Guelph, Waterloo, London, Kitchener, Niagara Falls businesses.