Friday Five: Mobibucks’ Ziad Alshobaki

Most mobile payment solutions require the presence of an actual phone — but not so with Mobibucks, a California-based startup with $10 million in investor backing. Managing Director Ziad Alshobaki drops in for a quick introduction in this week’s Friday Five.

Mobibucks’ claim to fame is that it was the first company to develop a mobile payment solution that doesn’t require the presence of an actual phone. Its patent-pending technology works for anyone who owns a cell phone, regardless of how “smart” that device might be.

Another distinguishing factor: the company isn’t tied to any individual mobile network or card association, allowing it to keep channel costs low in the future.

Ziad’s introduction to PYMNTS.com is far from loquacious — but his answers are nonetheless thought provoking.

What part do you play in the payments industry?

The substitute that old players fear.

What’s the greatest challenge or market inefficiency in your space?

Understanding.

What have other companies tried that hasn’t worked?

So far everything works… The question is who will continue.

What solution are you working on now?

How to adapt.

What will your niche of the payments industry look like in a year?

I will ask my fortune teller and let you know!


Ziad Alshobaki

Managing Director, MENA and Far East

Ziad Alshobaki is responsible for directing business development activities and establishing a strong network of partners in the EMEA and Far East regions. Before joining MOBIbucks, Mr. Alshobaki was New Ventures Director at Dubai World. Previously, he served as Director of Business Development at SAP and as a regional sales manager with IBM. Mr. Alshobaki started his career in 1994 with opening one of the first companies to develop websites and WAP in The Middle East. In 1998 he was part of the team that started the first IT Mall as well as a member of the team that started Tejari.com, the first G2B & B2B portal in the MENA region. He has extensive experience in Business Development management in the information technology sector. He completed his studies in the United States and holds a degree in Economics from the University of Chicago.