Tagit Introduces aggregated mobile payment services with its mobility platform

Addresses rising mobile banking & commerce demand in Asia, Middle East and Africa

Singapore, March 5, 2012 – Tagit, leading mobile solutions innovator and provider, has announced the availability of the latest release of its proprietary Mobility Platform to meet rising demand for mobile commerce and payment services in Asia, Middle East and Africa. The latest release of Tagit’s Mobility Platform will enable banks, enterprises, payment networks and aggregators that are ramping up mobile commerce initiatives to rapidly integrate and seamlessly deliver secure mobile payment services in one single, integrated application at lower total deployment cost.

Gaining traction in the Middle East, Tagit has recently partnered with Knet, the National Payment Switch in Kuwait to provide end-consumers with one integrated application for all their payment transactions, the first-ever hosted transaction-based service in the Middle-East. In collaboration with its Kuwait partner, MPay, Tagit will be rolling out Knet’s first mobile payment service through their Tasdeed Service which will enable e-government, telecom and mobile payments.

Tagit’s robust, scalable and highly secure platform architecture enables payment switch operators and aggregators to create the ecosystem that will facilitate mobile commerce and transactions in a rapid fashion. By plugging into Tagit’s Mobility Platform, payment switches and its network bank members can readily innovate and expand on mobile service offerings for their end customers.

Leveraging existing network and connectivity, banks can expedite time-to-market for mobile commerce services, improving customer’s overall banking experience. Once on the Tagit platform, end users will have access to multiple payment options and perform a variety of transactions such as utility payments, topping up telephone prepaid cards, online shopping and fund transfers in one single application, across mobile devices, using one payment network.

“Demand for mobile commerce is on the rise in Asia, Middle East and Africa where there are still areas that have unmet banking needs. Through our partnerships with payment aggregators and networks, we are finding solutions to expedite the delivery of mobile commerce and banking services to the consumers using one integrated platform,” said Naffi Singh, CEO & Co-founder of Tagit. “Our ongoing project in Kuwait heralds a new era in mobile banking and payment services, and is testament to continued market uptake for mobile commerce. Our pipeline of projects in Asia and Africa keep us optimistic with the growth of mobile commerce and banking sector in these regions, “added Singh.

Tagit has recently partnered with a leading bank in Singapore to launch the first-of-its kind cardless cash transaction service using the mobile phone. The mobile banking app has a feature called “Mobile Cash” which allows users to withdraw and transfer money to third parties through the ATM network even without an ATM card.