SharedFi, the WiFi Money Making App From WaveMAX, to Partner With Zendit and PagaPhone to Offer Mobile Top-ups and eSIMs
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Insights
The relaunch of WaveMAX's SharedFi mobile app represents a strategic move to capitalize on the growing trend of shared economy and WiFi monetization. The partnership with Mobile Virtual Network Operators (MVNOs) and the integration of IDT's Zendit prepaid-as-a-service platform is indicative of a broader shift in telecommunications towards more flexible and user-centric service models. The ability for users to share their private WiFi and receive compensation in the form of mobile top-ups and eSIM services from Zendit expands the revenue streams for WaveMAX and its partners.
For MVNOs like PagaPhone, this collaboration could enhance customer loyalty by offering additional value through the SharedFi app. From a telecommunications perspective, the shared network of WiFi access points and small cells could alleviate network congestion and improve coverage, which is particularly beneficial in densely populated areas. Moreover, the location-based advertising model presents a lucrative opportunity, although it raises potential privacy concerns that must be managed carefully.
WaveMAX's initiative with Zendit and PagaPhone has the potential to impact the financial metrics of the involved companies positively. By diversifying and increasing revenue sources, WaveMAX could see improved profitability, especially if the model is adopted widely by other MVNOs. The revenue share model also provides a cost-effective way for MVNOs to offer additional services without significant infrastructure investment.
For IDT Corporation, the partnership expands the reach of its Zendit platform, potentially leading to increased transaction volumes and greater visibility in the digital payments space. Investors should monitor user adoption rates and the scalability of the SharedFi model, as these will be critical indicators of long-term financial success. The model's success could also prompt competitors to explore similar partnerships, potentially leading to market consolidation or increased competition within the MVNO space.
The relaunch of WaveMAX's SharedFi app aligns with current market trends favoring shared services and digital financial solutions. The collaboration with PagaPhone taps into the fintech revolution, where financial services are becoming more integrated with daily technology use. By offering a platform that combines WiFi sharing, advertising and digital financial services, WaveMAX positions itself at the intersection of telecommunications and fintech.
Market research indicates a growing consumer demand for flexible and value-added services. The SharedFi app's ability to provide ad-free subscription services and include WiFi as part of data plans meets this demand and may give WaveMAX a competitive edge. It is essential to assess customer response to the SharedFi app's features, as this will determine the platform's market viability and potential for disrupting traditional telecom business models.
WaveMAX will include Zendit functionality for users to be able to apply revenue share to get mobile top-ups and eSIM (embedded Subscriber Identity Module) from Zendit, a cloud-based prepaid-as-a-service business of IDT Corporation (NYSE: IDT) ('IDT') as part of the initiative just unveiled by Zendit at the Mobile World Congress 2024 (MWC) in
PagaPhone, a fintech and Mobile Virtual Network Operator (MVNO) in
WaveMAX's SharedFi® patented technology allows for a shared network of WiFi access points and small cells. The end-user has access to this shared network and, if he has opted in, be impacted with location-based advertising. The user may also pay an ad-free subscription service, or have the service be included as part of their data plan. WiFi access points owners and MNO/MVNO Partners receive a share of the ad, subscription or mobile top-up and eSIM revenue.
"With the Zendit platform, WaveMAX will be able to add prepaid offerings curated from a global digital catalog of over 10,000 goods and services including mobile airtime top-ups, mobile data bundles, digital gift cards, and utilities enabling WaveMAX to participate in this high-growth opportunity by efficiently integrating cross-border prepaid offerings into their SharedFi app," said Emilio del Rio, President of IDT Digital Payments.
"Partnering with WaveMAX-SharedFi will help us create the most inclusive financial and telecommunications ecosystem in
"We are very glad to add mobile top-ups and eSIMS functionality using the Zendit Platform in the SharedFi mobile app, consolidating a business model where we partner with MVNOs like PagaPhone," said Eduardo Velasco, WaveMAX CEO.
About WaveMAX Corporation
WaveMAX is a WiFi-5G sharing company leveraging US patented technology to create an ecosystem monetizing mobile interactions between Telcos, Retailers, Providers, Apps, and Users. WaveMAX ecosystem is rapidly growing worldwide, creating new synergies and network effects.
About IDT Corporation
IDT Corporation (NYSE: IDT) is a global provider of fintech, cloud communications, and traditional communications services. We make it easy for families to contact and support each other across international borders. We also enable businesses to transact and communicate with their customers with enhanced intelligence and insight.
About PagaPhone
PagaCel is the first Mexican FinTelco that provides financial and mobile services as well as remittances under a unique brandname PagaCel. PagaCel is comprised by PagaPhone SmartPay, a fintech company, Orange My Mobile, an MVNO and Cloud Transfer Services, a Money Transmitter Operator. PagaCel offers innovative products with great social impact to promote the financial inclusion of Mexicans in the world and foreigners in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240229623297/en/
WaveMAX:
info@wavemaxcorp.com
512.902.8038
IDT: Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
PagaPhone:
Ulises Téllez
Email: ulises.tellez@pagaphone.com
Source: WaveMAX
FAQ
What is WaveMAX Corporation's SharedFi app relaunch about?
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