Loop Mobile has announced a Mobile Money service for its subscribers, enabling them to pay a variety of bills, recharge their mobiles and DTH TVs (across major operators), book movie and travel tickets, do some online shopping, and get a variety of deals, reports, and vouchers, all directly on their mobile phones via an SMS-based system.
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The Mobile Money service has been launched in partnership with ZipCash, and to activate it, Loop Mobile subscribers will have to visit a Loop Mobile Gallery outlet, where they can register, and deposit cash to be used as their mobile currency – not too elegant a solution, but we hope Loop Mobile will enable some form of online mobile wallet recharge via credit/debit cards soon enough. There’s also talk (via MediaNama) about the non-divisibility of coupons and vouchers, a problem that will result in foreiture of the balance of any coupon-based transaction, something other services, like Airtel Money, or cash cards like Itz Cash, end up avoiding.
Loop Mobile also plans to tie the Mobile Money service up with restaurants, in the future.