Telpac Industries, a global provider of mobile payment and electronic commerce products and services, recently announced that it is expanding its payment platform technology to include international money remittance. Currently, the company's platform is primarily used to send funds from one country to another.
"The growth of the international money remittance market presents an opportunity for Telpac to utilize our intellectual property as a system to process money remittance transactions," said David Teuma, CEO of Telpac Industries, in a statement. "The market size of this industry will exceed $400 billion in 2013 and we are positioning ourselves as a processor for this segment."
Telpac acquired its mobile payment processing platform earlier this year in April. It allows customers to make customized financial payment solutions for Internet, mobile, stored value and micro-payment applications.
In September, the company began its expansion into the mobile social game market by way of a software programming contract with Revolution Studios. As such, the game developer must develop Telpac's first two mobile platform games to be sold in the Apple (News - Alert) App Store, as well as the Google Play Store. Telpac said at the time that it expects completion of these games, as well as market placement, sometime in the fourth quarter of 2012, with revenue to be generated within 60 days of release.
These games will feature a micro-transaction model and will eventually be expanded to social networks.
The first of the two titles will be an interactive animal park simulation, while the other will be a competitive sports game. The focus of both will be high quality graphics, along with interaction driven gameplay of a "highly addictive nature." Players will be able to post their scores on Facebook (News - Alert) in order to compete with other players and friends.
Of course, while the mobile and social gaming market does indeed have the potential to be lucrative, Zynga has proven that it's more difficult than it seems.
Edited by Rachel Ramsey
Back to Mobile Commerce Insider Home