December 4, 2013
Prepay Nation is a US based company in the business of enabling international mobile topups and cross border micropayment services from one person to the other. Prepay Nation utilizes the prepaid mobile ecosystem to transfer values in the form of international airtime remittance. I got really excited when I came to know that there is no service charges to the sender or receiver and operates across European, US, India and other countries.
Prepay Nation is a leading global provider of value-added mobile services specializing in International Mobile Top-Up and cross-border micropayments. Headquartered in Pennsylvania, Prepay Nation is present in more than 27 countries with offices in Chicago, Illinois, New York City, Miami, Florida, India, UAE and Europe maintaining 200 mobile operator partnerships globally, and having a highly varied distribution footprint comprising over 150,000 retail points of sale. The way they make money is by getting a part of the revenue from the carrier for the airtime. Anurag Jain is the CEO of the company.
A demo of the Prepay Nation Android App:
Prepay Nation recently won first place at the annual Philadelphia100 Awards.
In the domain of international money remittance, the innovative model of Prepay Nation has intrinsic advantage. By bypassing the hassles and cost of traditional money remittance systems such as Western Union, Prepay Nation addresses a critical pain-point in the immigrant community. Not only can expats now support their friends and family by remotely and instantly refilling their mobile phones with minutes, but using the connectivity established by Prepay Nation, they will soon be able to send spendable currency for use in the many developing regions where the mobile money system is established and accepted. This envisions a great growth opportunity for Prepay Nation.
Though the changing dynamics, especially stringent government regulations, poses a great challenge for the company, it can still succeed with its unique model and existing network of partners across globe. To mitigate its future risks, Prepay Nation may also diversify into various channels like gifting, online money transfers etc.
Recently, Tagattitude entered into a partnership with Prepay Nation to connect the customers in Prepay Nation’s distribution network with the mobile money services running on TagPay. With this collaboration, all TagPay based mobile money services can utilize Prepay Nation’s distribution network to facilitate transfers of value to their user base from loved ones around the globe.