Smartlink, a Geneva-based enterprise specializing in mobile and wearable payments products, and MobiCash, a Hong Kong-based mobile financial services, have forged a new strategic partnership.

The partnership will combine Smartlink's technological experience in the provision of white-label products to a market made up of a varied mix of users with MobiCash's mobile banking, mobile payments and multi-banking technology, according to a press release. Smartlink is under Swiss Banking Supervision and licensed as a mobile money institution.

The companies said the first area of focus is the development of protocol specifications and algorithms that will enable interoperability between MobiCash's mobile Financial Services Platform and Smartlink's Mobile Transaction Platform. The resulting mobile services platform will provide a set of tools for efficient, effective, secure, and accessible mobile banking, mobile payment and mobile commerce products.

"We are truly excited about this ground-breaking partnership with an industry leader such as MobiCash," Sébastien Piolat, Smartlink head of business development, said in a statement. "Their fresh approach to mobile technology ultimately positions us well to revolutionize the mobile services space in Switzerland. What is particularly important to note is that the technology we are introducing through this partnership is not only disruptive but is also anchored on high level security frameworks and IT policies and procedures all tailored to meet the expectation of our valued stakeholders."

"We have always wanted to enter Europe but it was critical for us to wait for the right partner and also to do so at the right time," said Patrick Gordon Ngabonziza, founder and chairman of MobiCash. "The mobile technology market is highly regulated and a very sensitive one which places a huge emphasis on risk considerations and calls for flawless execution especially in a dynamic market such as Europe where mobile payment is now going mainstream. For us to have partnered with Smartlink was the best decision because they are exactly the type of organization we need as we share the same vision and can jointly define new opportunities."