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Mozido Launches Mobile Wallet for Underbanked

Feb. 13, 2012

Mozido, a Dallas-based mobile payments firm, has launched a mobile wallet platform it hopes will bring financial inclusion to un- and underbanked consumers around the world. The company said it has expanded a partnership with MoneyGram to enable the money transmitter’s clients to provide remittance services to customers through Mozido’s Genius Wallet application. “Our Genius Wallet brings every mobile phone user, including the unbanked, into a secure, convenient, and efficient financial ecosystem,” said Greg Corona, CEO of Mozido LLC “It offers opportunity and hope for a huge population worldwide, empowering them to enjoy a broad range of banking and financial services often for the first time, using their mobile phone.” In addition to the integration with MoneyGram, which will enable remittance services for approved programs at 256,000 MoneyGram locations in 192 countries, Mozido said a direct-to-consumer interface built into the Genius Wallet allows consumers of all social and economic backgrounds to make purchases and redeem rewards.

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