Mobetize Corp. in Vancouver Canada, a provider of mobile financial services (MFS) technology for the multi-billion dollar business to business (B2B) segment of the Fintech as a Service (FaaS) sector announced the expansion of its B2B Data Top-up/Gifting service to India with smartCharge from the press release of Globe Newswire on March 24.
What is mobile internet data
Whenever you use the internet on your phone, you're using data.
Whether using Facebook, browsing the web, sending an email, Tweeting, watching a video on YouTube or listening to music; data is being consumed.
Global operators struggle to manage increasing demand for data traffic on their networks as the traditional air time top-up model is challenged by the millions of people who use FaceTime, Skype, Snapchat, or Facebook to communicate. Mobetize’s Fintech as a Service Hub provides operators a proprietary solution that gives consumers access to the data they need to communicate.
SmartCharge empowers companies to offer their customers the ability to top-up or gift air time to friends and family around the world through a network of over three hundred and fifty global carriers.
SmartCharge’s newest feature gives users the ability to gift data across carrier networks worldwide. Mobetize now offers this service in India.
“We saw the opportunity to provide air time and data top up services around the world. India represents a very exciting corridor for these services as it is at the forefront of exponential digital economic growth. This expansion is an important milestone for Mobetize as an emerging market leader for digitized data consumption and gifting,” stated Ajay Hans, CEO Mobetize.
Mobile data traffic is expected to increase by 800% on a global basis within five years.
During 2016 alone, India experienced significant growth in mobile traffic – up 76% from last year, and by 2021, consumer mobile traffic in India will grow 7.4-fold at a Compound Annual Growth Rate of 49% year over year. Much of this growth will be fueled by pervasive consumer adoption of smartphones, smart devices and the use of machine-to-machine connections with an estimated 1,380 million mobile-connected devices by 2021.