CM Telecom moves into mobile payments, starts Payment Service Provider CM Payments

CM Telecom moves into mobile payments, starts Payment Service Provider CM Payments
30.06.2015 01:00 am

CM Telecom moves into mobile payments, starts Payment Service Provider CM Payments

Payments

 Mobile service provider CM Telecom moves into mobile payments and has founded CM Payments, a new Payment Service Provider (PSP) that will operate internationally. CM Payments opens its office in Amsterdam. 
 
Growing market
CM was founded in 1999 (www.cmtelecom.com) and specialises in worldwide mobile messaging and payments. It sees a strong growth in the (mobile) payment market. The number of online transactions increases and payments more often take place internationally. Moreover, consumers are increasingly using various payment methods. A growing number of businesses, charities, organizations and governments focus on mobile and online payments, however the setting of online payments has not changed significantly in 15 years. Also CM clients ask for more payment options.
 
Platform & technology
CM already has the in-house technology and the platform, which can process a large number of transactions per second. CM Payments (www.cmpayments.nl, Dutch) bases its technology on the existing technology. The platform offers connectivity to multiple payment methods including VISA, MasterCard, Paypal, iDeal, Microincasso and Bancontact (Belgium).
 
Closed beta period
CM Payments wants to expand the cooperation with a number of existing CM customers by using the capabilities of the payment platform. The group consists of, among other, authorities, fundraising institutions, media, e-commerce and telecom players. After the closed beta period, CM Payments goes public.
 
Jeroen van Glabbeek, CEO of CM: "Starting the PSP CM Payments stems from the growing demand for mobile and online payments. From 1999 CM shows expertise in mobile transactions and may call itself the largest mobile payment company in the Netherlands. We want to use the closed beta period to build confidence and work towards perfection and speed. After that period we want to serve all companies that need quick and secure mobile payments through bank accounts and credit cards. That also means that we roll out CM Payments internationally."
 
Lead sponsor of NAC Breda
Additionally, CM Payments will be the lead sponsor of the football club NAC Breda the coming season and an option for a second season. NAC Breda comes out in the second highest division in the Netherlands.

 

Related News

Mastercard enables Contactless limit raise across 29 countries; and champions permanent increase

Today Mastercard announced its commitment to enabling the increase in contactless payment limits across... Read more »

TransUnion Research Quantifies How Social Distancing is Changing Shopping Patterns

TransUnion (NYSE: TRU) today released new research that quantifies the spike in digital commerce since social distancing became widespread globally. The company found a 23%... Read more »

Wirecard expands presence in Mexico

Wirecard, the global innovation leader for digital financial technology, and Banca Afirme, a Mexican financial institution with a nationwide presence, are collaborating to... Read more »

Barclaycard to enable UK retailers to accept new £45 Contactless Limit

Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, will be rolling out the deployment of the new £45 contactless limit across UK retailers... Read more »

Digital Payments in Europe to Surpass $802bn Transaction Value This Year

The increasing number of mobile phone users and the massive growth of eCommerce have led to the rapid adoption of digital payments all over the world. Cashless payments have... Read more »

SumUp launches free Mobile Payments and Invoicing across Europe to help consumers pay safely and remotely via smartphone

As Europe moves into COVID-19 lockdown - affecting small businesses and retailers everywhere - SumUp, the London-headquartered fintech and leading provider of digital payments... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel