Paytoo mobile Sim Card

[YackieMobile]

The concept here is not to only offer a prepaid MC to the client, as we are in the prepaid world, as we have half of the world unbanked, but 5 Billion GSM users, we offer a full suite of products who merge the Telecom and the financials services.

It's because we have been developped since few years...

Out top up network, we offer now around 200 000 locatiosn worldwide when you can do a cash in and a cash out from your Paytoo Mobile account

Exemple, deposit made in USA, transfered from your Paytoo to the receiver paytoo and redeemed to the Chinese post office.....

We offer also a Prepaid Mastercard using and sharing your telecom Balance ( Patented Paytoo mobile )

We offer to the user to pay online by using his credit availlable on his paytoo mobile account

all of these services are availlable separatly or all together....

( for the Backbone, it's Vodaphone ......)

[VladS]

I wonder how long before the system falls under the scrutiny of the anti money laundering watchdogs. Offering financial transactions 'on behalf of a third party' at a corner convenience store can be tricky...

[petkow]

Originally Posted by VladS

I wonder how long before the system falls under the scrutiny of the anti money laundering watchdogs. Offering financial transactions 'on behalf of a third party' at a corner convenience store can be tricky...

Good point! I suppose these sort of services are regulated like Moneygram or Western Union or other favourites of our Nigerian friends.

@YackieMobile... Thanks for your reply, but you are rather good at not answering any questions or points raised in earlier posts such as by FBlack_111 and myself. What exactly are the fees associated with using the Mastercard? Are the terms available to see on your website? I cannot seem to find them.

[123456]

@YackieMobile: Can you tell us how to order a Paytoo sim card, how much credit will be included and what it will cost including shipping (to Europe)? I can't find this information on the Paytoo website.

@Petkow: The right website to find the terms and fees is paytoomobile.com:
- Paytoo Mastercard Fees
- Paytoo Mobile Rates
- Paytoo Terms GSM
- Paytoo MasterCard Terms
- Paytoo Terms Mobile Wallet

[VladS]

Originally Posted by petkow

Good point! I suppose these sort of services are regulated like Moneygram or Western Union or other favourites of our Nigerian friends.

There's one major difference... Both Western Union and Moneygram are licensed in each and every country (in the US and Canada at the state/province level) they operate in. They require the sender to fill out a form with the sender's and recipient’s info and they also require both senders and recipients to show proof of ID. Some jurisdictions have additional requirements to satisfy the 'know your customer' rule.

I feel it would be a bit difficult to to try to license the corner store guy...

[Bossman]

Am I the only one that did not notice the cost for incoming calls on the mobile rates page. Just outgoing?

[petkow]

Originally Posted by 123456

@Petkow: The right website to find the terms and fees is paytoomobile.com:
- Paytoo Mastercard Fees
- Paytoo Mobile Rates
- Paytoo Terms GSM
- Paytoo MasterCard Terms
- Paytoo Terms Mobile Wallet

Thanks. There seems to be some difference between the Mastercard fees listed on Paytoo MasterCard Terms and those listed in Paytoo Mastercard Fees
e.g. Monthly Administrative Fee listed as € 2.95 in one place and Free in the other.

[petkow]

Originally Posted by Bossman

Am I the only one that did not notice the cost for incoming calls on the mobile rates page. Just outgoing?

No it is there further down when you make a selection between 2 countries.
e.g.

Outgoing call :
You call from Bahrain to UK Mobile : 0.31 €/mn
You call from : Bahrain to UK Land Line : 0.15 €/mn
Sending SMS : 0.18 €/sms
Incoming Call when in Bahrain
Caller reach you on your cell phone: 0.12 €/mn
Receiving SMS : FREE

[GadgetKen]

Originally Posted by petkow

This is the same as pretty much all of the other prepaid Mastercards out there. What is point of paying for the luxury of paying, if most of us have other payment methods?? I presume most international travellers that this might appeal to have ordinary credit cards, bank cards etc.

From the 2 mins I have had to browse the Paytoo site, other than that tiny bit in the smallprint, I can see no other details about what the transaction costs are of using the Mastercard. Are they hiding this?

While I agree with Andy we shouldn't delve too much on payment cards on a GSM themed website, it does appear they are intertwined here. The interlinked prepaid MC and money transfer capabilities may be of use to some people. But I agree with you the primary purchasers will tend to be people like ourselves with other forms of payment already available to them. Transaction costs are here: PaytooMobile - Rates and coverage
Rates for mobile phone calls are here: PaytooMobile - Rates and coverage

On the financial regulation of this product to prevent money laundering, they are asking for an address and contact information. However, they could ask for further ID (drivers license or passport number) to further validate customers like I've seen with GSM sim cards for some carriers and/or restrict the amount of money that can be transferred in one transaction or in one day.

On having Vodaphone as the backbone carrier, that is a large well known carrier (with ties to Verizon in the US), so that is a welcome choice.

My interest here is really with the GSM sim card and not the optional financial capabilities(of little use to me other than possibly a cellular enabled vending machine that I haven't seen in the USA yet: http://www.vendingmarketwatch.com/web/online/VendingMarketWatch-News/Coca-Cola-Co-secures-patent-for-cellular-phone-enabled-vending-transactions/1$11068 , but I do wish them well with that aspect of their service. I'm really more interested in their Caribbean to US mobile phone rates...this could save me money for international calls in some instances over my current options.

[123456]

Originally Posted by VladS

I feel it would be a bit difficult to to try to license the corner store guy...

It seems that Paytoo Mobile has some partners for that. Using call credit vouchers to top-up a Paytoo Mobile is basically the same as depositing credit into a mobile wallet. I hope there is a direct link between Paytoo and Vodafone (NL), but i think it will be via a third party (MVNE) like Teleena.