At Harvard, Mobibucks Presents the Success in the MENA Region

LOUISVILLE, Ky. - Tuesday, June 28th 2011 [ME NewsWire]

(BUSINESS WIRE)-- Mobibucks, a leading provider of mobile marketing and payment solutions, announced that MENA Managing Director Ziad Alshobaki of Mobibucks FZ LLC presented at the MPD Payments Innovation Institute on June 23 and 24 at Harvard University in Cambridge, MA. The focus of this year’s Institute, one of the leading forums in the payments industry, was on the role of mobile and social commerce in driving innovation in payments.

Mobibucks, selected as one of the most promising innovators in payments, showcased its next-generation mobile payments, marketing and rewards solutions. “Mobi™” is a first-of-its kind payment product for making purchases using a mobile phone number. It provides customers with a patent-pending, cashless, card-less, paperless and phone-less payment solution that targets the everyday purchases made by consumers. The company also showcased its recent mobile payments service launch at Abu Dhabi Commercial Bank (ADCB) in Abu Dhabi, UAE. ADCB is the first bank to offer this unique mobile payment service.

The two days of “innovation immersion” was led by faculty members from renowned business schools as well as the leaders of some of the most innovative companies in the payments industry. Ziad Alshobaki, who presented the success story between Mobibucks and ADCB, was the only participant from the Middle East.

The MPD Payments Innovation Institute (PII) is designed to help people in the payments industry find the next great idea; drive adoption for new products and services to attain critical mass and ignition; and turn great ideas into great businesses that are viable and profitable.

About Mobibucks

Mobibucks is a free, fast and secure mobile payment solution enabling consumers to make cashless transactions. Mobibucks is led by a combination of payment industry veterans and innovative entrepreneurs working together with leading edge retailers to create the next generation payment infrastructure. Jorge Fernandes, founder and former CEO of ViVOtech, Dave Barram, a senior Silicon Valley executive at Apple, Silicon Graphics and Hewlett-Packard, and Tom Recktenwald, Co-Founder of Stored Value Solutions, a leading gift card provider, established Mobibucks. Mobibucks corporate offices are in Louisville, KY with R&D in Silicon Valley. For more information, visit http://www.Mobibucks.com/.

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