Can you tell us more about your service?
Masabi builds user friendly, secure Java applications which run on more than 90% of mobile phones in use today, bringing web-level security to m-commerce with our certified EncryptME technology. This technology is applicable in all areas of mobile transactions, for example mobile money transfer, secure messaging and mobile ticketing. In the ticketing area we are currently seeing major interest in our solution which allows rail travellers to buy and display their ticket on their mobile phone which obviously eliminates the need to queue for tickets!
This week we announced that Masabi can increase m-commerce application usage by up to 50% using Encrypted SMS. Masabi found that 40%-50% of mobile handsets aren't configured with the correct settings to run mobile applications over GPRS or 3G - which obviously dramatically affects user take-up. Masabi's technology automatically detects whether GPRS/3G internet settings are correct and if not uses an encrypted SMS message to exchange the mobile application data. This enables the creation of user friendly mobile applications which let users, for example, securely buy a rail ticket on their mobile phone using a credit card over SMS or GPRS and 3G (where internet settings allow).
What is your business model?
We are a B2B software provider, so we work with large IT companies, Rail operators, Financial Services companies etc to allow them to offer our services to their clients. We generally charge for the initial development and then an amount per transaction.
What are the projects, additional features you're preparing?
We’re working on a number of specific projects in mobile rail ticketing and international money transfer which we’ll be announcing in the next few weeks. We also have a number of other exciting projects which we can’t currently talk about!
What are the current users' feedback, your learnings on the service's usage?
The user feedback we’ve had so far has been terrific, in one deployment we had users saying that the interface was easier to use than the Web on their desktop PC and in another trial users demanded that the service was kept running after the initial trial period had ended. By using technologies like SMS as a back-up in cases where there are issues with 3G and GPRS, we’ve found that applications just work first time, every time – which is key for getting new users to try the services and to keep them coming back again and again.
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