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Mobile Commerce Replaces Wallet

mobile news — Tue, 23 Feb 2010 13:33:13 +0000

Mobile commerce (m-commerce) is basically an extension of e-commerce on the mobile phone which enables consumers to make payments for goods and services directly from their mobile phones. This gives the consumer the benefit of making payments from anywhere without the hassle of physically being present at a store, standing in a line or turning on a PC to transact online.

m-commerce replaces wallet
An m-commerce consumer has the flexibility to use the mobile phone as a replacement to a wallet and make payments at a physical location, online or even remotely. Users can buy movie and flight tickets, pay utility bills, recharge their prepaid mobile balances, book hotels and cars, send gift vouchers and even donate to charity directly from their mobile phones thereby eliminating the process of using credit cards for online shopping, thus making the transaction far more secure.

The payments can be made by authenticating payments through mobile services providers using the mobile phone via SMS, GPRS, BREW and IVR.

The only difference between e-commerce and m-commerce is that while e-commerce is limited to PC users with an internet connection, m-commerce can use technologies as simple as SMS and IVR among other things therefore being available to the entire mobile carrying population. With mobile penetration at 10 times of the PC penetration, and expected to become one billion by 2012, it won’t be long before India will become a very large player in the m-commerce space — explaining why many people see m-commerce akin to e-commerce on steroids!

Easy payments
The main benefit is the convenience of making a payment from anywhere in addition to providing an additional layer of security over existing banking instruments. The mobile payment solution not only provides a comprehensive platform with a vast ecosystem of online and physical merchants, travel and entertainment verticals, billers and banks accessible from any handset or operator, it ensures utmost simplicity while factoring in high security standards across the entire transaction life-cycle.

Secure transactions
Security is a major issue addressed by m-commerce as its service provides complete security in transactions — PCI DSS 1.2, PA-DSS and Union government’s Cert-IN certified. These are the most stringent security standards adopted by the global payments industry. Mobile transactions through the service providers add an additional layer of security enabling a customer to make a purchase without ever revealing any sensitive information.

Every transaction is authorised with a four digit PIN which is punched into the customer’s mobile phone over an automatic, secure IVR call-back and there is no manual intervention whatsoever. This process ensures that there is complete control and security and practically eliminating the chances for frauds. Even if the mobile were to get stolen there is so no way that one can misuse the account without the PIN.

RBI hikes transaction limit
A year from its issue of a set of guidelines for mobile banking transactions, the RBI has provided a fertile environment for mobile payments by revising the guidelines and raising the transaction limit to Rs 50,000 per day for purchase of goods and services from the earlier cap of Rs 10,000. To facilitate the use of mobile phones for remittances of cash, RBI has even allowed banks to provide fund transfer services from the accounts of their customers for delivery in cash to the recipients.

Easy fund transfer
The disbursal of funds to receiver can be facilitated at automated teller machines (ATMs) or through business correspondents appointed as agents by the banks. The maximum value of such transfers is capped at Rs 5,000 per transaction and customers can remit a maximum of Rs 25,000 per month through this service.

The new guidelines mean that the process of P2P money transfer will become even faster and easier. As the receiver no longer needs to have a bank account as a pre-requisite, he or she can simply collect cash at the nearest bank or business correspondent. This opens the market up in terms of the number of people you can transfer money to in an instant as one is no longer limited to intra-bank transfers.

The mobile payment solutions provider has always been an advocate of using the SMS as the transaction authorisation protocol for all financial transactions over the mobile. On the financial inclusion side, if we go strictly by Dr Raghu Raman’s recommendations of creating a National Electronic Financial Inclusion System (NEFIS), then the backbone of such a system would be in its ability to carry out small value transactions (Rs 100) at limited transaction cost (sub Rs 1). And, the only way that can be done on a mass acceptable basis is via SMS, which is the single most pervasive feature in the mobile technology revolution, cutting across all SECs, geographies, handset vendors, MNOs, etc.

Tags: mobile, mobile banking, Mobile Commerce, mobile Pay, mobile payment, Mobile Payments, mobile phone, mobile phones, payment, payment solution, phone, Wallet

Motorola Redefines Mobility for Retailers with Next Evolution of Enterprise Solutions

mobile news — Sun, 17 Jan 2010 17:49:44 +0000

Motorola, Inc. has broadened its enterprise mobility portfolio to better enable retailers to streamline operations, increase sales, improve customer loyalty and gain competitive advantage. With new mobile computing, voice and RFID solutions, Motorola is empowering store associates with access to better information to make better decisions – ultimately transforming the customer experience.

“Motorola is committed to delivering the future of retail today by helping retailers forge new connections with customers,” said Frank Riso, senior director of retail, Motorola Enterprise Mobility Solutions. “With our diverse portfolio of enterprise solutions, Motorola enables retail associates to work smarter, improve productivity, stay connected and give customers the shopping experience they want.”

Some of the latest retail solutions that will be featured in Motorola’s booth include the following.

* Motorola’s off-the-shelf, ready to deploy CLP two-way radio is uniquely designed for comfort, durability and ease-of-use to provide reliable, instant push-to-talk (PTT) communication in demanding retail, restaurant and hospitality environments. Measuring the width and length of a standard business card, CLP is the smallest and lightest two-way radio in its class and can be used for requesting a price-check on the retail floor, coordinating hotel employees to instantly respond to concierge or housekeeping requests or assisting diners to the correct seat at a busy restaurant. The CLP can be used both indoors and outdoors and, when paired with the new Motorola RPX Portable Repeater, it provides users with increased coverage to ensure consistent uninterrupted communication.
* Motorola’s TEAM badge (EWB100) mobilizes communications by meeting customer demand for high-quality PTT voice connectivity over the enterprise WLAN to mobile workers. Simple to use and weighing less than two ounces, the new EWB100 VoWLAN device streamlines task management and improves productivity – allowing associates to address issues, answer questions, obtain a task or report completion of a task right on the spot. The EWB100 also features the TEAM Express voice client, creating instant interoperability with other TEAM Express devices including a wide range of Motorola voice-enabled mobile computers, TEAM VoWLAN devices and two-way radios (with TEAM Radio Link Solution) to extend communications and the return on investment.
* Motorola’s MC3100 series of mobile computers offer advanced computing power, industry-leading data capture options, enterprise-class motion sensing capabilities, and the most versatile form factor for mid-range mobile computing. Designed for key-based and touch-screen applications such as price/stock management, inventory control, returns processing, and shipping and receiving, the MC3100 series will help retailers, streamline business processes, improve employee productivity and enhance customer service and satisfaction.
* Supporting RFID Gen 2 technology, the Motorola MC3090-Z RFID handheld reader incorporates the industry’s first dual-axis antenna resulting in longer and wider read ranges for more accurate, rapid capture of tag data – ideal for item-level applications such as retail cycle-counting, inventory and asset tracking. This high-performance RFID handheld reader also provides the ability to scan bar codes – reducing the number of devices organizations need to purchase and manage.
* Retailers can now conduct mobile point of sale (mPOS) transactions with the Mobile Payment Module with Chip and PIN attachment for Motorola’s MC70/75 mobile computers. The Mobile Payment Module adds the payment function to the mPOS solution for credit cards with its magnetic stripe reader (MSR), debit cards with its secure manual PIN entry, and now chip and PIN payment cards. It also meets the approvals for the latest global data security standards.
* Rugged mobility solutions aimed at improving the productivity of warehouse workers – Motorola’s WT4090 Voice-only Wearable (VOW) Terminal and its RCH50 Rugged Cabled Headset can replace paper-based processes with voice-directed solutions resulting in real-time processing, reduced errors and improved decision making. The WT4090 VOW is a hands-free, voice-directed, task-specific tool that offers comprehensive wireless network connectivity, high-power processing and robust voice features including support for voice-recognition, text-to-speech engines and Voice-over WLAN (VoWLAN). Designed for comfort, hygiene and safety, the ergonomic RCH50 is Motorola’s lightweight, cabled headset that provides full shift comfort and enables hands-free, voice-directed mobility solutions.

Tags: loyalty, mobile, mobile Pay, mobile payment, mobile retail, motorola, payment

Donations Via Mobile Phone See Massive Growth, Single Touch Now Powers a New Way to Donate to Charities

mobile news — Sun, 17 Jan 2010 17:47:50 +0000

Donations Via Mobile Phone See Massive Growth, Single Touch Now Powers a New Way to Donate to Charities – Following the disaster in Haiti, mobile donation programs are seeing a dramatic increase in usage. Donations via text message continue to be popular and now donations via voice calls to Mobile Dialing Codes (MDCs) are seeing tremendous growth due to their ease of use and convenience. Single Touch Systems (OTC Bulletin Board: SITO) provides the platform for mobile giving via Charity Call™, where AT&T subscribers dial #505 and select a charity or cause of their choice and simply make a one-time donation of $25. Callers can select the cause ‘International Humanitarian Relief’ to make a donation.

“Single Touch creates programs that make charitable giving via the mobile phone as easy as making a phone call. Single Touch is thankful that we’re able to help the families by using our MDC technology to make it easier to donate, just dial #505 to help now,” said Anthony Macaluso, CEO of Single Touch Systems. Single Touch has won industry awards and recognition for its innovation and programs across a variety of industries.

Tags: Donations Via Mobile Phone, mobile, mobile phone, phone

Obopay Introduces New iPhone Application

mobile news — Fri, 11 Dec 2009 11:10:36 +0000

Obopay Introduces New iPhone Application – Now Sending Money and Staying Connected to Family is Easier Than Ever – Obopay announced that its Obopay Mobile Payments application for the iPhone will be available from the Apple App Store beginning today. The free download will enable iPhone users to send money to friends and family more quickly and easier than ever with Obopay’s application.

Highlights / Key Facts:

Now, iPhone users have a fully secure, proven and easy-to-use mobile payments service available at their fingertips. Recently named Technology Pioneer 2010 by the World Economic Forum, Obopay is an innovative mobile payments service provider in the U.S. as well as international markets. Obopay has established partnerships with companies such as Nokia, MasterCard, AT&T and Verizon Wireless.

Obopay iPhone application features include:

Send money to anyone with a US phone number

Send money to your kids or anyone 13 years of age or older and track how they spend the money all from your iPhone

View full transaction history from anywhere

Receive money free of charge regardless of how many people send you money or the amount you receive

Set up your account to automatically deposit the funds that you receive into your own bank account without having to manually intervene

Request money from contacts

Receive a Push Notification when you get a request for money

Check the status of a request anytime, from anywhere

Some of the more popular uses of Obopay include:

Parents sending money to children: Parents can instantly send money to their teens – or any family member – using Obopay on the iPhone.
- Obopay is a unique application in the App Store that allows parents to set up controlled accounts for their children and see at a glance where the kids are spending the money, schedule recurring “allowance” payments into the account and send emergency money to family members. It also prevents the danger of children incurring overdraft penalties or interest charges or potentially damaging their parents’ credit.
- Teens receive a prepaid card with their name embossed on the card and immediately can access the received money at any ATM or merchant location which accepts cards.

Splitting the bill: One no longer needs to worry about friends not having exact cash at dinner when splitting the bill, because they can pay you back on the spot with Obopay.
Small and medium-sized merchants: Small and medium-sized merchants such as gardeners, babysitters, contractors and online merchants now can be paid instantly through a secure environment creating efficiencies and greater convenience.
Obopay leverages Apple’s iPhone OS platform and alerting capabilities by giving users comfort that their payment was successfully sent and received.
Obopay offers a companion MasterCard prepaid card, thus enabling iPhone users to have up-to-the minute awareness of their available balance and recent transactions.
It’s free to download Obopay to your mobile phone, sign up for the service, access your account information as well as receive money. Sending money costs as little as $0.25 per transaction.

Tags: Apple, iphone, iphone app, iPhone Application, MasterCard, mobile, mobile Pay, mobile payment, Mobile Payments, mobile phone, Nokia, Obopay, payment, phone

Fortumo Mobile Payments Launches in Russia

mobile news — Fri, 11 Dec 2009 11:05:37 +0000

Fortumo Mobile Payments Start Covering The Whole East- Service Launched in Russia – Fortumo.com the leading Mobile Payment Provider for SME-s in Eastern Europe and Asia announced today its expansion to Russia. According to the company, Fortumo is planning to cover all the major Ex Soviet Union countries soon. Ukraine and Belarus will be made available shortly after New Years Eve.

“Easter European and Ex Soviet Union countries are still difficult to access for most of the western internet companies “, – says CEO Fortumo Martin Koppel. “Fortumo sees itself as a gateway, which helps those companies monetize their user base in region without risks and costs”, – adds Koppel.

Besides mobile payment, with Fortumo everyone can create SMS-services without any technical background or cost in 5 minutes. Basic services are targeting at users without any technical skills, while advanced services enable experienced service providers to benefit from the multi-country functionality, flexible user interface and competitive revenue sharing.

“Typical Fortumo users are online game portals, social media application developers and different internet entrepreneurs, while radio stations, local newspapers and ad agencies also benefit from the media convergence.” says the CEO of Fortumo Martin Koppel. “At the moment people have created nearly 85 000 revenue generating SMS-services,” adds Koppel.

Fortumo is providing its services in 29 countries from Nordics, Europe to Southeast Asia, and is available at Fortumo.com without any startup or monthly fees.

Fortumo Ltd, headquartered in Estonia, provides a simple mobile payments platform for internet entrepreneurs to monetize online games, social networking sites and other web-based businesses. With ready to use solutions, there is no need to complicated setup and additional technical knowledge. Fortumo services are available in 29 countries, which makes the market with more than a billion mobile subscribers available to everyone. Founded in 2007, the company is experiencing rapid growth, having launched its service in 29 countries in Europe and Asia. In 2009, Mobile Monday chose Fortumo as one of the TOP20 most potential mobile startups in the world and TechCrunch featured Fortumo in its list of the TOP100 most interesting startups in Europe.

Tags: Fortumo, Fortumo Mobile Payments Launches in Russia, gateway, mobile, mobile Pay, mobile payment, Mobile Payments, payment, Russia, UPS

VeriFone Announces PAYware Mobile iPhone Payments Solution

mobile news — Thu, 10 Dec 2009 13:41:59 +0000

VeriFone Holdings, Inc., (NYSE: PAY) today announced PAYware Mobile, a complete payment solution for the Apple iPhone that provides small businesses with simple and secure card processing capabilities on the popular smartphone platform.

VeriFone’s payment solution for the iPhone (www.paywaremobile.com) puts mainstream payment processing capabilities in the hands of small business merchants who need a mobile card acceptance solution for enterprises such as home repair, small cafes, door-to-door sales, or virtually any other type of business. The hardware and software solution will begin shipping January 15 and is available free to those who sign up for a PAYware Mobile secure gateway service agreement.

PAYware Mobile includes a PA-DSS approved payment app and a sleek and durable card reader that slips over the iPhone to accommodate card swipes and allow merchants to avoid high-cost “card-not-present” fees. The combined hardware and software provides the strongest card payment security available for the iPhone, including VeriFone’s VeriShield Protect end-to-end encryption solution as a standard feature.

“The complete PAYware Mobile solution brings secure payment capabilities to merchants who previously could not justify a dedicated payment acceptance device. We believe this represents a potential market of millions of small businesses worldwide,” said VeriFone CEO Douglas G. Bergeron.

“Banks and processors are concerned about the security issues of unapproved merchants using unregulated software and insecure fobs to accept card payments,” Bergeron added. “PAYware Mobile leverages VeriFone’s proven payment and security expertise to provide the ultimate in end-to-end protection against payment fraud and misuse on an open and unregulated platform such as the iPhone.”

VeriFone’s iPhone payment solution will be available through existing bank acquirer and ISO channels, as well as direct from VeriFone. VeriFone also expects to eventually make PAYware Mobile available wherever mobile phone accessories are sold. Customers who sign up directly with VeriFone without existing merchant accounts will be directed to a variety of payment processor options.

PAYware Mobile is connected to First Data, and will be available for shipment through TASQ Technology, a First Data company.

Edward (Ed) Labry, president of First Data’s retail and alliance services business unit, said: “We are pleased to support VeriFone’s new iPhone payment solution, and believe it will generate many new electronic payment transactions.”

Transactions initiated by PAYware Mobile will be managed through VeriFone’s PAYware Mobile secure gateway and routed to one of many credit card processors for authorization and settlement. VeriFone expects to make PAYware Mobile fully available to most other processors.

The PAYware Mobile card reader utilizes a secure magnetic stripe read-head and firmware certified to the Federal Information Processing Standard FIPS 140-2. Card details are immediately encrypted during the card swipe process, meaning no sensitive data ever reaches the payment app, eliminating the possibility of compromise either on the iPhone or when information is transmitted over WiFi or cellular wireless.

Merchants can reserve a system and view service options and fees at www.paywaremobile.com. An EMV version for international payments will be available in the spring.

Tags: Apple, gateway, iphone, mobile, mobile payment, mobile phone, payment, payment solution, PAYware Mobile iPhone Payments Solution, phone, VeriFone

Jack Dorsey’s Square In Action

mobile news — Mon, 07 Dec 2009 11:42:05 +0000

Twitter creator Jack Dorsey talks about his new project, Square, and we see it in action
Square – Twitter co-founder Jack Dorsey presents new way to accept payments – a hardware software combination for mobile devices that allows vendors to easily accept and process credit card payments

Tags: Jack Dorsey, mobile, mobile payment, payment, Square

MasterCard Canada Brings PayPass(TM) Payments to BlackBerry Smartphones

mobile news — Mon, 30 Nov 2009 10:23:34 +0000

BMO Bank of Montreal and Research In Motion, MasterCard Canada is bringing mobile payments to BlackBerry smartphones through its MasterCard(R) PayPass(TM) ‘tap and go’ contactless payment technology. The four-month trial brings contactless payments via mobile devices a step closer to Canadians.

In this trial, participants will use PayPass(TM) Mobile Tag-equipped BlackBerry smartphones to make secure purchases at any of the 8,500 merchant locations in Canada that accept MasterCard PayPass.

For the first time, the mobile payment will integrate with the device, with a confirmation email of each transaction sent to the BlackBerry smartphone, including purchase details such as the amount, retailer and date of transaction.

How it Works

The mobile payments in this trial are made possible through a PayPass Mobile Tag, a self-adhesive device that may be attached to a BlackBerry smartphone to add MasterCard PayPass contactless payment capability. The Mobile Tag contains the same chip and antenna found in a regular PayPass card, with the addition of special material to reduce interference between the Mobile Tag and the phone to which it is attached.

Whether consumers are using a PayPass enabled mobile phone or credit card, they enjoy the same protections from fraud with PayPass as they would with conventional MasterCard payments. PayPass is supported by robust, multi-level security protections including the encryption of PayPass radio frequency transaction transmissions and the multiple security protections of the MasterCard payment system.

Tags: BlackBerry, MasterCard, mobile, mobile Pay, mobile payment, Mobile Payments, mobile phone, payment, PayPass, phone, Research In Motion

China Unicom links with China Unionpay on mobile payments

mobile news — Mon, 30 Nov 2009 10:21:55 +0000

China United Network Communications Co. Ltd. (China Unicom) has entered a strategic partnership with China’s sole payment service network, China Unionpay Co. Ltd. to develop mobile payment services, according to a Nov. 29 joint announcement.

Under the deal, China Unicom subscribers will be able to use China Unionpay to make payments and transfer money among participating banks. The two parties will cooperate on the exploration of value-added services such as e-commerce payment applications and security services.

“China Unicom and China Unionpay are jointly researching a number of payment services, including RFID (radio frequency identification) mobile SIM card, fixed-line and Internet payment options. Payment service trials are currently being conducted in Shandong Province, Sichuan Province and Shanghai Municipality and an official national launch is projected for the second half of 2010,” said a China Unicom source close to the situation who requested anonymity.

Mobile payment has been key focus area for telecom operators in the lead up to the 3G era.

Tags: china, mobile, mobile Pay, mobile payment, Mobile Payments, payment

GoPayforit Launches Mobile Payments Service in the UK

mobile news — Thu, 19 Nov 2009 10:54:58 +0000

GoPayforit launched its new mobile payments service to enable bloggers and content owners to more easily sell content online – by using GoPayforit, lower priced content can now be purchased by consumers in an easier, more manageable and less time-consuming way.

GoPayforit allows bloggers and content owners to set up a payment service for their site by inserting one simple line of code. Once established, this enables consumers to debit money directly from their mobile phone bill (PAYG or contract) in order to make payments. UK mobile operators provide support for GoPayforit as a secure transaction platform as it is based on the tried and tested Payforit platform

The GoPayforit service requires purchasers to enter their mobile number online to receive a secure PIN code sent as an SMS. Once the pin is received the code is entered online and the purchase is completed. This system is far more efficient than using a credit card – and GoPayforit has discovered that it is up to 7.5 times more efficient for consumers.

“When making small donations of £5 online, or buying one-off pieces of content from websites for say £1 or £2, entering your credit card details can be a long and tedious process,” said Chris Newell, CEO, GoPayforit. “Many potential customers may not even have a credit card, while those that do often just don’t want the hassle of entering all that information, meaning there is a huge drop-off at the payment stage.”

Newell continued, “Not only that, but for many smaller sites there are a lot of hoops to jump through to use credit card payment on the site. GoPayforit is both easier to set up for the website and easier to use for the consumer, making it a better experience for everyone.”

GoPayforit can be used to make purchases ranging from 25p to £10 and can be used on any website and for any content, including: purchasing singles or videos from a band’s website; making small donations to your favourite charity; purchasing mobile games from online stores; paying for additional content on news sites; or subscribing to your favourite blogger for a small fee.

Tags: bloggers, gopayforit, mobile, mobile Pay, mobile payment, Mobile Payments, mobile phone, payment, phone

Mobile Payment, Mobile News, Mobile Remittance, Mobile Solutions, Mobile Technology, Mobile Coupons » mobile payment

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