SommaRedde is a new generation payment switch. Designed to bring mobile money payments into the mainstream economy, it will allow any user of a Mobile Payment Service (MPS) to make mobile money payments for goods and services everywhere.
Read more
SommaRedde is the future of mobile money payments.
There are 2.5 billion underbanked people in the Developing World unable to perform electronic financial transactions, effectively excluding them from a meaningful participation in the mainstream economy. SommaRedde will change that with an app-based and globally unique mobile money payment switch, designed to turn billions of mobile phones into powerful and universal payment tools.
In the formal retail environment, consumers can use their phones to make an instant mobile money payment at the cash register.
Traders working in informal sectors can download the SommaRedde Mobile POS app to a phone to make a payment to any handheld computer.
Until now the millions of people that rely on remittances have been subject to significant transaction fees.