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Simfonie Mobile Banking Solutions Brochure" href="downloads/gfg_simfonie_product_brochure.pdf" target="_blank"><img border="0" alt="PDF - Simfonie Mobile Banking Solutions Brochure" src="images/simfonie_mobile_solutions.jpg" width="165" height="198" /></a></p> <h2><a title="Download PDF - Simfonie Brochure" href="downloads/gfg_simfonie_product_brochure.pdf" target="_blank">Download PDF - Simfonie Product Brochure</a></h2> <p> </p> <p><a title="PDF - Cadencie Product Brochure" href="downloads/gfg_cadencie_product_brochure.pdf" target="_blank"><img border="0" alt="PDF - Cadencie Product Brochure" src="images/cadencie_credit_card_solutions.jpg" width="164" height="242" /></a></p> <h2 style="margin-bottom: 0;"><a title="Download PDF - Cadencie Brochure" href="downloads/gfg_cadencie_product_brochure.pdf" target="_blank">Download PDF - Cadencie Product Brochure</a></h2> </div> <div class="content section_boxbottom"> </div> <div class="content section_boxtop"> <p class="topZero"> </p> <h4>e-news</h4> <p>Keep your finger on the pulse of latest banking technology news. <a href="register.php">Subscribe to E-News »</a></p> <p><a href="register.php" title="Subscribe to GFG Group E-News"><img src="images/gfg_enews.jpg" alt="Subscribe to GFG Group E-News" width="164" height="180" border="0" /></a></p> <h2 style="margin-bottom: 0;"><a href="news.php">Latest GFG News»</a></h2> </div> </div> <div id="c2"> <div class="content"> <h1 class="topZero">GFG GROUP - NEWS ARCHIVES - 2007</h1> <h1 class="topZero">Spiralling sales for New Zealand-developed mobile payments software</h1> <p><img src="images/line_hz.gif" width="679" height="10" /></p> <p>15 March 2007 - reprinted with the kind permission of FRST</p> <p>New Zealand payments software company GFG Group has global telecommunications companies beating a path to its door, as worldwide interest grows in its groundbreaking mobile payments software.</p> <p>GFG's software allows payments to be made securely from a mobile phone in the same way as a credit or EFTPOS card. Originally developed for Philippines mobile telecommunications company Smart Communications, the software is now being snapped up by telcos around the world.</p> <p>An early sale was to Vodafone New Zealand for its first point of entry into electronic mobile payments. Vodafone's Hotlink service allows customers to use mobile phones to top up prepay or account balances directly from a nominated bank account. Then, last year, GFG made a major sale to a consortium of North American telecommunications companies in a deal which GFG Group Sales and Marketing Manager Marie Tamplin says is worth millions of dollars to the company. Other sales are being finalised with leading telecommunications companies based in Dubai and Delhi, with growing interest from other parts of Asia.</p> <p>"It's a difficult thing to grasp in New Zealand where we are virtually born with a bank account, but around 80 per cent of the world's population does not have access to basic financial services," says Ms Tamplin. "Even in the United States around 12 percent of households are unbanked. Even where people do have bank accounts there is pressure to make paying for goods or paying bills as simple and fast as possible. We are in a sweet spot in terms of what we can deliver via mobile with the technology we have developed."</p> <p>GFG was founded in the early 1990s by a group of consultants working in the banking and finance sector, with particular expertise in the development and implementation of a card based payments system. More than 20 years experience in developing successful card management software has been key to enabling GFG to be first to market with its unique mobile payments product. International credibility and recognition has been earned by GFG's work with Smart Communications in the Philippines. This has resulted in Smart Money, a highly-sophisticated mobile payments services now used by more than 80 percent of Smart's 22 million subscribers.</p> <p>It has been particularly successful there, says Ms Tamplin, because of the millions of Filipinos working overseas who want to send money home.</p> <p>"A Filipino maid working in New York, for example, can send money back to her father, who might be working in a far flung location, but will receive a text message within a few minutes saying his account has been credited. He can then go to a number of accredited retail outlets - 7-Eleven and McDonald's are common ones - to withdraw cash.</p> <p>"A transaction like this would normally cost up to $20 but with Smart's service it costs just a couple of dollars."</p> <p>Three years ago GFG's chairman and co-founder Ralph Green spearheaded a major 'step change' for GFG Group. Former Gen-I chief executive Anthony Howard came on board as a shareholder, director and interim chief executive and former IBM and Jade Software sales person Marie Tamplin was hired as group sales and marketing manager. The new team set about transforming GFG Group from being a consulting and services company - with modest growth aspirations - to a software company, specialising in payments, and aiming for rapid international growth. Central to the company's aggressive growth plans is mobile payments.</p> <p>Government investment, through the Foundation for Research, Science and Technology and New Zealand Trade and Enterprise (NZTE), has played a significant role in achieving that goal. The Foundation invested $338,000 in research and development through its Technology for Business Growth scheme. NZTE has also contributed to GFG's go-to-market strategy, including funding of $154,000 through the Growth Services Fund and other market development services.</p> <p>"We could not have developed the company as a commercial and viable global entity without that support. It's not just the dollars invested, although they have ensured the research and development and business capability building gets done, it's also the rigour around having to report back to the agencies and the requirement to think strategically. A lot of people are not aware of just how supportive the government is to business," says Ms Tamplin.</p> <p>The company has also had investment from Endeavour Capital and Direct Capital.</p> <p>This month, GFG achieved a major milestone with the completion and launch of a fully re-engineered and rebranded set of software products, Cadencie™ (for card payments) and Simfonie™ (for mobile payments). This brings together its Card and Mobile payments product offerings into a new integrated architecture designed to support virtually any payment device, ranging from credit cards to mobile phones. Ms Tamplin says the the strategy behind the product developments reflects the fundamental changes that technology convergence is driving through the global payments market.</p> <p>"The new products ensure GFG's payments technology is at the forefront of this change, enabling payments to be made anytime, anywhere, using a wide range of payment instruments - from a mobile phone to a traditional credit or debit card."</p> <p>Having solid banking experience at its core is what gives GFG Group its edge.</p> <p>"We are banking experts not telecommunications experts so our staff understand the complexities involved in managing people's financial affairs, something mobile operators don't always appreciate. GFG has been able to act as a broker, mopping the brows of the bankers and helping to ensure everything from service to security can be guaranteed," says Ms Tamplin.</p> <p>GFG is growing rapidly with staff numbers at 65, up from 30 three years ago, and further expansion likely as global sales increase. Including its card payments software, GFG Group now has has more than 50 customers worldwide. The company is accredited by the World Bank. GFG’s mobile commerce technology won the company the TUANZ Telecommunications Mobile Application of the Year Award in 2006.</p> <div> <p> </p> <p style="margin-bottom: 0;"><img src="images/line_hz.gif" width="679" height="10" /></p> </div> <p style="margin-bottom: 0;"><a href="news_archives_2007.htm">« News Archives 2007</a> | <a href="news_archives_2006.htm">News Archives 2006 »</a></p> </div> </div> <div id="columnbottom"> </div> </div> <div id="footer"> <div id="footercontent"> <div id="footercontent2"> <p><a href="#"><img src="images/arrow_TOP.gif" alt="Back to GFG Group page top" width="7" height="9" border="0" /> TOP OF PAGE</a> | <a href="index.htm">HOME</a> | <a href="profile.php">ABOUT GFG GROUP</a> | <a href="products.php">GFG PRODUCTS</a> | <a href="news.php">GFG NEWS</a> | <a href="downloads.php">DOWNLOADS</a> | <a href="contacts.php">GFG GROUP CONTACTS</a> | <a href="register.php">SUBSCRIBE</a> | <a href="careers.php">CAREERS</a> | <a href="sitemap.htm">SITE MAP</a> | <a href="http://www.website-designers.co.nz/" title="Web design / website development New Zealand AMG WEB" target="_blank">WEB DESIGN : AMG WEB</a></p> <img src="images/spacer_gfg_group.gif" alt="" height="6" /> <p>Copyright © 2010 GFG Group Ltd. 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