Winner: People's Choice Award
Innovator: Harold Dimpel (ACT)
Company: mHITs Pty Ltd
mHITs is a person-to-person (p2p) payment system which uses a mobile phone as the transaction device. It is a completely electronic, telco independent, 3rd party mobile e-wallet. Users send and receive money via SMS text message and can make payments instantly between any Australian mobile phone. Users can also make purchases from mHITs merchants such as mobile content, MP3 and other electronic downloads, make purchases for goods and services from internet websites. Other payment applications include parking, taxi fare payment, charity donations and cash back offers.
- Free person-to-person payments by SMS
- Sends money instantly to anyone with an Australian mobile
- Fast, simple, safe and secure using real money
- Low merchant fees
- Transfer money in and out of your mHITs account from your bank account
- No account keeping fees or overdraw fees
Status of Innovation:
The mHITs person-to-person payment service was launched in May 2006. A merchant payment facility was launched in December 2006.
mHITs mobile based micro-payment transactions is currently focused on acquiring users and merchants