Luup launches universal mobile payments platform

Targets banks with system that offers mobile payment services 'anywhere in the world through any mobile device on any network."

The platform integrates Temenos T24 core banking app, which is already used by hundreds of banks worldwide and therefore conforms to all the required financial regulations. It also incorporates tech from Microsoft's SQL Server and BizTalk Server.

Luup already operates in developed and emerging markets, and offers financial institutions and corporates the ability to extend their financial services via the mobile channel. This varies from alerts and balance checking to full-scale transactions.

Martin Wilson, Luup's CEO, said: "Financial institutions require the capabilities, reliability and scalability of a bank-grade platform to capture a significant share of the predicted $426 billion market.

"As the only independent global provider of mobile payments, we have created an international remittance ecosystem for banks and corporates, connecting senders and receivers of funds across the globe."

Luup's official release claims this is the first global mobile payments service, but it's hard to see how it differs from those offered by Monitise, YesPay, More Magic and others.