“Dallas-based Mozido, LLC, a leader in multichannel financial transaction services, has secured growth funding from TomorrowVentures, a California-based investment firm focused toward seed and early-stage venture capital investments. Established in 2006 and focused on the unbanked and under-banked population, Mozido offers a complete suite of mobile financial services and processes financial transactions across multiple channels — mobile devices, POS terminals and the Internet.”
This prepaid offering will be brought to market as a white-label product, which will enable retailers, financial institutions, and mobile network operators to easily introduce their own branded prepaid products.
“Mozido offers financial transaction processing services to retailers, financial institutions and mobile network providers. In a convenient, secure and cost-effective manner, Mozido puts the power to move money, pay bills, make purchases and accept social payments in the hands of consumers around the globe.”
“We are very excited for this opportunity to enhance and expand our suite of mobile financial services into new markets via the financial support of TomorrowVentures,” said Mozido Chief Executive Officer Craig McNeil. “Through our low-cost white-labeled mobile financial services market strategy, our offering is available to a sizable market of more than two billion unbanked and under-banked global consumers,” he said. “
The Mozidio team is primarily from the mobile world and their Web site would appear to indicate that this is currently a closed-loop mobile wallet intended primarily for retailers, not for financial institutions or mobile network providers. Until Mozidio establishes acceptance at a wide range of retailers, this solution remains a closed-loop implementation.
