Plextek enables Iceni Mobile to realise its secure mobile payments vision

Iceni Mobile was formed from the team that created and ran Vodafone’s multi-award winning mobile payments service M-PESA. With I2S Iceni has created the world’s first next generation mobile services and payments platform, building on the successes and know-how shown in M-PESA but delivering on a new level of innovation: One which provides a single platform for the many mobile services each person may have, whilst delivering on the scalability, flexibility and operational efficiency required for a truly mass market solution. Iceni offers the I2S platform as a turn-key white label service which is then supported by fully managed technology and business operations.

>From the foundation of Plextek’s early stage support Iceni has been able to successfully accelerate its vision by securing an investment from the MIH Group (part of multinational media group Naspers Limited). MIH has provided series A and B funding, strategic management support and will assist Iceni in gaining access to the Naspers group’s emerging market footprint.

Iceni is now rolling out its first two commercial deployments in Columbia and Bolivia. A further four deployments are also planned in the next six months.

“The demand for fast, safe and low cost payments by phone is very strong within emerging markets where mobile phone take-up outstrips access to formal financial services. It was immediately clear to us that Iceni Mobile’s proposition had masses of potential thanks to the credibility of its founders and the strength of its technology,” commented Plextek’s Technical Director, Ian Murphy. “At Plextek we have a strong track record as an incubator and have helped numerous start ups like Iceni to turn concepts into reality. We’re delighted at the success Iceni is already seeing. As a significant shareholder, we continue to be involved moving forward and see a great future ahead for the company.”

“Plextek’s backing unquestionably gave us the impetus and the environment we needed to get initial technology and market development off the ground,” comments Tim Murdoch, CEO, Iceni Mobile. “We had access to a large pool of specialist knowledge and wireless design experience, which has accelerated our progress and given us a real commercial edge. This foundation has been a catalyst for helping us to attract essential additional funding which in turn is helping us to improve the capabilities of our technology, attract staff and grow the company by expanding the number of markets we’re able to serve around the world.”

Iceni’s experience of mobile payments has demonstrated the opportunity that a live and successful payment service brings to broaden mobile services generally, not just for financial transactions. The company is also building a pipeline of mobile data service modules in addition to its mobile payments; for example, modules for micro-finance ledgers and investments, rural medical and healthcare services and mobile and e-commerce are all in pilot.