A mobile service provider has expanded its way into the international payments space.
CM Telecom recently announced that it has founded a new payments service called CM Payments, which will also be a new global payments provider.
The company, which was founded 16 years ago, has focused its efforts on mobile messaging and payments. And with the increasing number of online transactions going cross-border between more businesses and organizations, the company has decided that it's time to bring more to the online payments space.
For now, the company is testing its capability in a closed beta period, but it plans to eventually go public. According to CM, the company's plans include expanding its core customer base, which includes authorities, fundraising institutions, media, eCommerce and telecom players, to grow its payments platform.
"The choice to start the PSP CM Payments stems from the growing demand for mobile payment and online. 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," Jeroen van Glabbeek, CEO of CM, said in the company's news release.
Currently, CM says it has more than 15,000 clients worldwide and claims to help "brands conduct critical business processes including customer interaction, marketing campaigns, transactions and mobile CRM via mobile messaging, mobile apps, voice services and payment functionality." It focuses its services on mobile messaging, mobile app development, security and push notification messaging.