MOBIbucks
MOBIbucks is a global mobile payments technology company and a leading provider of mobile marketing and payments solutions for banks, financial institutions and merchants.
The company developed the first and only patent-pending mobile payments solution that uses just a mobile phone number, eliminating the requirement that a consumer carry cash, cards or even the physical phone to purchase goods, redeem coupons and receive reward incentives.
MOBIbucks’ unique payment platform works with all mobile phones, not just a smartphone or NFC device, and allows users to carry out transactions using their phone number. With MOBIbucks, any consumer with a cell phone already has a mobile wallet. What also sets MOBIbucks apart is the fact that the company is not tied to a mobile network or a card association. And this means that customers -- banks, financial institutions and merchants – can reduce channel costs and achieve a compelling return on investment.
History
Jorge Fernandes is MOBIbucks Chief Strategist and co-founder. MOBIbucks launched the MOBIbucks payment platform in 2007 addressing the needs of the digital economy. MOBIbucks opened an office in Dubai, UAE in early 2009. By January 2010, MOBIbucks and Hypercom were bringing e-Commerce to restaurants. In mid-2011, Abu Dhabi Commercial Bank (ADCB), one of the largest banks in the UAE, launched the MOBIbucks payment system. And later in the year, MOBIbucks and Advanced Integrated Systems partnered to provide the first mobile money platform for the Caribbean.
Funding
MOBIbucks secured $5 Million in Series A Financing on July 5, 2011, bringing total valuation to $10 Million.