Luup is a mobile payment provider with a difference; they offer premium bank-grade mobile payment solutions that solve business challenges and enable new services. Unfortunately they’re not available in South Africa yet however it’s a fascinating concept.
Luup is building an international mobile money transfer network by partnering with banks and financial institutions around the world. Luup specialises in payment facilitation, the development of user interface solutions via SMS or mobile payment applications and the hosting of stored value accounts for financial institutions. Customers using Luup can pay for goods and services, donate to charities, pay bills or send money to family & friends using their mobile device.
The company has three main products they offer:
Remittance – Luup offers a highly cost-effective solution for foreign workers wishing to send money to their home countries. Firstly, a user does not have to hold a bank account to receive money via Luup, which means that workers can be paid directly to their mobile phone without needing to get a bank account in their country of employment. They can then send the money via Luup to someone in another country for a fraction of the cost of a normal international money transfer.
Person-to-Person payments – Whether it’s splitting a bill, paying a friend back or transferring money for a private transaction, Luup facilitate a very simple way to make personal payments.
Goods and services – Luup users can use their mobile phones to pay in shops and for various services such as taxis.
In addition Luup also helps charities. Charities can now receive donations by SMS without facing hefty charges to mobile phone operators.
The pro of using Luup is that you suddenly have access to branded services without any technical investment. Luup takes care of the technicalities for you meaning less hassle for you and your users.
Luup is the only mobile payment provider to offer a universal payment platform. As a Luup partner you gain a unique channel to reach customers and generate revenue. You can provide your customers with mobile payment services that are fast, efficient, convenient and secure.