Two European technology companies are strengthening the security of mobile bill payments.Mobile fraud is costing the African continent dearly.
In 2020 alone, it has been estimated at over 4 billion dollars.
To combat this scourge, Evina and Telecoming have signed a global alliance to promote Direct Carrier Billing (DCB).
DCB is currently considered the most secure and appropriate payment method in the new mobile economy and, in particular, in the fight against fraud.
According to the promoters of this technology, DCB is the most suitable payment technology for millions of unbanked Africans who appreciate its accessibility and convenience.
The agreement between the two companies, both present in 15 countries in Africa, the Middle East and Europe, makes mobile phone transactions even more secure, the two companies said in a joint statement on Monday.
In addition, the alliance aims to educate on the vast potential of direct carrier billing through the DCBMaster service.
The latter allows users to measure their exposure to fraud, as well as their knowledge of the market and regulations, the statement added.
The alliance will also see the launch of the first global DCB indicator.
This index will measure the maturity of the DCB market in different regions, based on the analysis of four indicators: fraud protection, innovation, digital industry penetration and growth potential.
“With this alliance, we want to place DCB at the forefront of the payments industry and reinforce our commitment to the development of a transparent, secure and stable mobile economy,” Telecoming COO, Roberto Monge said.
“By protecting the mobile payments ecosystem, we want to support the growth of the DCB and help all stakeholders to thrive in this ecosystem,” said David Lotfi, Evina’s Chief Executive Officer.