Netherlands company Margento maintains a mobile transaction service based on what it call “Data-over-Voice”, which essentially works the same as the French solution above – your phone transmits data via sound, which is read and decoded by a scanner at the point of sale. It has announced it is entering into a 50-50 joint venture with the services branch of multinational company Bertelsmann, Arvato Services. Margento and Arvato will be using the Data-over-Voice system for loyalty/coupon redemption, payments for products and services, balance top-up, mobile tickets, and electronic gift vouchers.

Via GoMo News

Starbucks is testing a mobile payment system in Seattle and Silicon Valley.
Starbucks Card Mobile app allows users to add money to their card account from the app using a credit card, and then use it to pay for Starbucks products by swiping a 2-D barcode on the screen.

Just enter your Starbucks Card number and your iPhone ‘becomes’ your Starbucks Card.
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Bank of America has announced the BankAmericard Basic™ Visa card. “The new card features one basic rate for all types of transactions, including balance transfers and cash advances. That rate, which is tied to the U.S. Prime Rate, will not change over the life of the account.” The new card will be available online at bankofamerica.com in October.

Key features of the BankAmericard Basic Visa card include:

• The interest rate is the same for all transactions, including purchases and cash advances, making it easy for customers to keep track of their interest rate at any given time.

• One interest rate — U.S. Prime plus a margin of 14 percent — that never changes for the life of the account. Rate increases and decreases will only occur if the Prime Rate changes.

• No over-the-limit fee.

• Easy- to-understand, single-page disclosure explains terms and conditions.

• One flat fee of $39 for late payments.

arvato services, the services arm of Bertelsmann’s arvato division, and Margento B.V., a technology company from the Netherlands, today announced the formation of a joint venture. The JV, headquartered in Munich, will offer customers comprehensive transaction and payment services via the mobile phone.

Margento will bring its proven transaction platform to the 50-50 joint venture, as well as its patented Data-Over-Voice (DOV) technology, while arvato services will invest in the JV and contribute its extensive expertise in Marketing, Customer Relationship Management (CRM), Supply Chain Management (SCM) and Finance services.

“We are excited about opening up the German market for mobile transaction services with arvato as our partner,” said Margento CEO Gregor Breznik. arvato services’ managing director Mario Schwegler added: “The JV’s balanced mix of expertise in services and technology forms an outstanding basis for a nationwide implementation of mobile loyalty and payment services in Germany.”

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Making mobile payments has been touted as the easiest, most convenient way to make payments. Using a mobile phone, money can be sent to pay a variety of bills with just the click of a few buttons. It’s supposed to be much like sending payments from your home PC, but it can be done from anywhere you happen to be. Making mobile payments is easy and it is convenient, but it’s certainly not a safe way to send money.

Most cell phone transactions are simply not being sent with the kind of encryption that will keep their users’ data safe. Many of the access points being used to send wireless payments are completely unencrypted. About a quarter of them use no encryption while many of the remaining access points are using poor encryption methods that leave customers’ data vulnerable. Vulnerable data means a loss of crucial financial information that can then be used by anyone who has it.

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Five Secrets for Effective Loyalty Marketing – one way retailers are hoping to get customers back into their stores, is by offering all sorts of rewards programs and in-store bonuses to their most loyal customers

Compared to the expense required to attract new customers with advertisements or sales, loyalty programs like these are an inexpensive way to keep existing customers coming back and the money flowing in.

Although the average household has a dozen loyalty memberships, almost half of all consumers carry just one or two store membership cards with them, according to Consumer Reports. Knowing how hard it is to become the one card that shoppers carry religiously, retailers are offering bigger and bigger incentives – sometimes too big for a loyalty program to remain profitable.

Margento answers the above and many other challenges with fundamentally simple approach: forget cards – use mobile phones.

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