Alternet Systems, an enabler of m-commerce services in the Americas and Caribbean, has launched a mobile financial offering to provide card management, payment processing and mobile financial services that connect a mobile wallet to traditional payment tools.

The payment initiative is based upon Alternet's mobile commerce subsidiary Utiba Americas, a joint-venture with mobile financial transaction platforms provider Utiba.

Utiba Americas is Utiba's affiliate for the Americas region and provides the Utiba mobile financial services solution as a hosted service and a software license.

Utiba has recently launched an initiative dubbed Converging Payments to allow payments between debit, prepaid and credit cards and mobile wallets. Alternet is set to work with Utiba on card processing and program management services to provide an end to end solution.

The suite of services, expected to be commercially available by the end of Q2 2012, are set to target financial institutions, program managers, consumer goods manufacturers, governments, traditional and online merchants and social media networks.