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

China’s Alipay Now Accepted for Purchases at mba.com Store

mobile news — Fri, 05 Nov 2010 12:11:30 +0000

GMAC, the Graduate Management Admission Council, has announced that people in China can now use Alipay, a major Chinese third-party online payment solution, to make purchases from the mba.com store, the official supplier of test-preparation material for the Graduate Management Admission Test (GMAT).

More: continued here

Tags: china, payment, payment solution

VeriFone Announces Pan-European Payment Gateway

mobile news — Tue, 02 Nov 2010 08:11:44 +0000

VeriFone has announced its PAYware Merchant managed service is now available across Europe. The recently announced strategic partnership with Gemalto “completes VeriFone’s pan-European sales and distribution network and makes a continental payment gateway service feasible.” PAYware Merchant is a bank-certified, hosted payment solution for large retailers, fuel organizations and hospitality companies.

More: continued here

Tags: gateway, payment, payment solution, VeriFone

PayPal X Innovate 2010 Developers Conference

mobile news — Thu, 28 Oct 2010 06:10:02 +0000

At its PayPal X Innovate 2010 developer conference today, PayPal unveiled “new technologies and partnerships that will allow people to change the way they pay – accessing their digital wallets from more devices to shop, browse and pay anytime, anywhere.” PayPal Announcements: PayPal Showcases the Future of Money at Its Innovate 2010 Conference PayPal and Developers Push Mobile into Mainstream PayPal Unveils New Payment Solution for Digital Goods PayPal Teaming Up with USAA Bank for P2P Payments Partner Announcements: Discover to Leverage PayPal’s New Adaptive Payments APIs to Enable Cardmembers to Make P2P Payments PlaySpan Integrates PayPal X Into its…

More: continued here

Tags: mobile, payment, payment solution, Wallet

American Express and SAP Join Forces to Launch Integrated Payment Solution

mobile news — Tue, 19 Oct 2010 22:10:45 +0000

American Express and SAP have announced a joint effort to develop an integrated solution enabling SAP customers in the United States to process electronic payments more seamlessly with American Express. “As part of the agreement, American Express will license SAP NetWeaver PI technology and SAP will be the first company to deploy the new integrated Buyer Initiated Payments/PI solution. The companies plan to make the solution available in the first quarter of 2011.”

More: continued here

Tags: payment, payment solution

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

Mophie credit card scanner coming to the iPhone

mobile news — Mon, 04 Jan 2010 08:46:22 +0000

Mophie, popular iPhone and iPod accessory and battery add-on maker, will unveil at Consumer Electronic Show in Las Vegas this month its iPhone credit card reader and third-party app .

Accessory, named “Credit Card Reader” along with a complimentary third party processing application will allow iPhone users to accept credit payments by swiping their credit cards through a special casing attached to their mobile phone.

The device, which will turn any iPhone into a credit card reader, will be a direct competitor to Square, which is developed by Twitter co-founder Jack Dorsey.

Mophie’s credit card reader will compete with other electronic payment solutions such as Swipe ($0.99 on iTunes App Store), VeriFone’s PAYware Mobile, Intuit’s GoPayment and Square.

Tags: application, Intuit GoPayment, iphone, iTunes, iTunes App Store, Jack Dorsey, mobile, mobile phone, mophie, payment, payment solution, phone, Square, VeriFone, VeriFone PAYware Mobile

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

MasterCard Launches MasterCard Mobile Payments Gateway to Spark Mobile Commerce Globally

mobile news — Mon, 16 Nov 2009 11:10:57 +0000

MasterCard today announced the introduction of the MasterCard Mobile Payments Gateway, a mobile payments processing platform that enables financial institutions and mobile network operators to deliver end-to-end mobile payments solutions through the MasterCard Worldwide Network.

Itau Unibanco and Redecard, along with mobile network operator Vivo, will be the first to use the MasterCard Mobile Payments Gateway to deliver mobile payment solutions to the banks’ customers in Brazil. The service will give consumers the ability to use their phone as a mobile wallet and link their existing credit, debit or prepaid MasterCard or Maestro card accounts to their mobile phone to fund mobile-initiated payments.

The Mobile Payments Gateway is a turnkey mobile payment processing platform that allows issuers, acquirers, merchants and mobile network operators to quickly and cost-effectively provide customized mobile solutions in developing payments markets by tapping into the MasterCard Worldwide Network, the payments industry’s only fully globally integrated network. As a result, banked and unbanked mobile consumers gain access to a wide range of MasterCard Mobile payments solutions that provide greater payment convenience and security over cash–using their mobile phone to make purchases, send and receive money between family and friends, transfer funds between accounts, pay bills, deposit funds such as payroll or social benefits, top up mobile airtime, load value to prepaid accounts, get cash from ATMs, and keep track of their balances and activities with mobile alerts.

MasterCard is working with Smart Hub, Inc. (SMART HUB, a subsidiary of Philippine-based Smart Communications, Inc.) to leverage its mobile payments technology to develop the MasterCard Mobile Payments Gateway. Requirements for development of a mobile payments infrastructure vary from market to market. By integrating SMART HUB’s capabilities, MasterCard has created an open mobile payment processing platform through the MasterCard Payments Gateway to facilitate the launch of MasterCard Mobile payment solutions in developing markets.

MasterCard is helping to transform financial services with mobile innovation to fulfill a global market need. Consultative Group to Assist the Poor (CGAP), an independent policy and research center housed at the World Bank, and the GSMA Association report that there are more than 4 billion people worldwide who have a mobile phone, but far fewer mobile phone users have a bank account- with the number to grow from 1 to 1.7 billion by 2012(1). The Mobile Payments Gateway enables them to benefit from secure and convenient mobile payment services that were previously unavailable to them. At the same time, participants in the mobile payments value chain can realize the significant potential for mobile growth outside of the markets they traditionally serve–providing opportunities for financial institutions to introduce payment and financial services to unbanked consumers and mobile network operators to offer value-added services for mobile payments.

“The Mobile Payments Gateway will help to make mobile payments a way of life for mobile phone users around the world,” said Joshua Peirez, group executive of Innovative Platforms for MasterCard Worldwide. “Through our global, integrated payment network we are efficiently connecting financial institutions, merchants and consumers together to mobilize MasterCard payment solutions in a way that truly reflects today’s on-the-go lifestyles.”

“We are pleased to introduce a mobile payments solution that reinforces our innovative positioning in the market,” said Fernado Teles, managing director, Itau Unibanco Holding. “For Itau, it is important to not only bring cutting-edge products but also ensure that it offers our customers the security and convenience they expect from a banking transaction.”

“The MasterCard Mobile Payments Gateway is complementary with the existing Redecard solutions and we are honored to be part of this project,” says Roberto Mediros, President and CEO of Redecard. “This platform reinforces our leadership in mobile payments solutions. This is a breakthrough for mobile payments around the globe. Democratization and innovative solutions have always been priorities for Redecard and the MasterCard Mobile Payments Gateway is precisely aligned.”

“Vivo, the largest mobile operator in Brazil with over 48 million customers, is a natural choice for this partnership, due to its installed user base and broad service outreach, in more than 3,400 cities nationwide,” according to Hugo Janeba, Vivo’s Executive Vice President of Marketing and Innovation. “This is an important service we are glad to offer to our customers, empowering their connectivity so they can make the most out of their mobile phones. The mobile payments market is an expanding opportunity in the local scenario and we are sure this initiative will be a success.”

“While in the region there are some mobile payments solutions in the market that help unbanked mobile users transfer money or top-up prepaid accounts, these solutions have been limited in providing the breadth of payment transaction services for the underserved consumer to completely manage their finances,” said Richard Hartzell, president, Latin America and the Caribbean region, MasterCard Worldwide. “I am pleased that the Latin America and Caribbean region will be the first to offer the MasterCard Mobile Payments Gateway, which will benefit every constituent in the payments ecosystem–helping financial institutions and mobile network operators reduce their mobile operating expenses and costs to serve consumers while enabling merchants to cost-effectively expand payment acceptance using their mobile phone. This will allow consumers to enjoy a more robust suite of mobile payment services that makes their lives easier.”

Following the launch in Brazil, MasterCard will introduce MasterCard Mobile payments solutions through the Mobile Payments Gateway in select markets around the world.

“Successful growth of mobile payments around the world requires participation, communication and collaboration among all members of the mobile payments value chain,” says Napoleon L. Nazareno, President and CEO of Philippine Long Distance Telephone Company and Smart Communications, Inc. “We are excited to build upon a successful history with MasterCard to advance mobile payments innovation in the industry by delivering compelling solutions that combine the global MasterCard brand and world-class payment network with our extensive digital telecommunications capabilities and world-first wireless data services.”

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

Are You Accepting Mobile Payments Yet?

mobile news — Fri, 28 Aug 2009 11:56:38 +0000

Gartner predicts the number of mobile payment users worldwide will hit 73.4 million by 2009 and 190 million by 2012. This represents a tremendous percentage of total cell phone users (Gartner estimates upwards of 3% of the total user base) and companies must consider this technology as a potential payment channel comparable with checks, cash and electronic funds transfers.

Retailers First Adopters of Mobile Payments

The benefits of mobile payment solutions for retailers are obvious. The ability to accept credit card payments or mobile payments on a wireless device such as a smartphone enables retailers to create a host of new, innovative and engaging retail platforms. “Pop-Up Retail,” a term coined by Trendwatching.com, is a temporary retail space designed to quickly draw in crowds in high traffic areas then disappear once buzz wanes. Think fairs, concerts and other outdoor venues with massive crowd attendance. Because these events have limited time durations the expense of creating a permanent retail space (and the infrastructure to support it like phone and internet lines) is prohibitive.

But don’t write-off those sales just yet – mobile payment systems bridge the gap. With the swipe of a credit card down the side of a payment-enabled iPhone or Blackberry gives you instant access to the same payment processors you already use – returning an instant payment authorization and integrating with accounting systems afterward to keep track of it all.

Future uses of mobile payments will extend beyond point of sale activity at events to providing useful payment tools for in-field staff such as carpet cleaners, repairmen, plumbers, etc. hoping to decrease the time between invoice and receipt of funds. Companies making house calls to discuss a customer’s outstanding invoices will be able to capture a payment instantly – offering the customer an option to avoid immediate disconnection of services.

Business-to-Business Companies Early to Late Majority

It’s true that many industries have adopted mobile data solutions for business-to-business customers, but most have focused on account and inventory information retrieval, logistics and routing solutions, and signature capture for goods delivered. In the future, businesses will move away from invoicing customers then waiting 30+ days for payment and will instead opt for mobile payment systems the customer uses at time of service or delivery to make payment. B2B companies will represent the Early to Late Majority adopters of this technology but its impact will be significant. The cost of managing receivables can be dramatically lowered leveraging mobile payment solutions.

In Summary – Brainstorm on how Mobile Payments can Impact Your Company

The multitude of killer applications available today on our web-enabled cell phones, smartphones and other similar devices would have been unheard of just four years ago – therefore, brainstorm for the future. You and your executive leadership should engage subject matter experts, both inside and outside the company, to determine how mobile payments are likely to affect your business model in the short and long term. Map out the impacts and begin developing a strategy to ensure you are proactively capturing the value mobile payment systems provide instead of reactively trying to catch up with your competition.

Are You Accepting Mobile Payments Yet?
By Kelly Short

Credits:

Gartner

Dataquest Insight: Mobile Payment, 2007-2012

http://www.gartner.com/DisplayDocument?ref=g_search&id=950812&subref=simplesearch#h30

Trendwatching.com

“Pop-Up Retail”

http://trendwatching.com/trends/POPUP_RETAIL.htm

Kelly Short is an expert in the technology, business process automation and marketing disciplines. He shares over 15 years worth of experience everyday at kellyrshort.com helping small and medium companies with actionable advice on increasing sales with powerful marketing, lowering operating costs using business process management, and leveraging unified technology to crush competition.

Article Source: http://EzineArticles.com/?expert=Kelly_Short
http://EzineArticles.com/?Are-You-Accepting-Mobile-Payments-Yet?&id=2449742

Tags: application, BlackBerry, gartner, iphone, margento, mobile, mobile news, mobile Pay, mobile payment, Mobile Payments, payment, payment solution, phone, Storm

Nokia Introduces Nokia Money for Mobile Financial Services

mobile news — Fri, 28 Aug 2009 06:38:15 +0000

Nokia has introduced Nokia Money – a new mobile service operated in conjunction with Obopay – calling it “a new mobile financial service offering consumers with mobile device access to basic financial services. For many consumers, this will be the first time they have had any access to such financial services.”

According to the company, “Nokia Money has been designed to be as simple and convenient as making a voice call or sending an SMS. It will enable consumers to send money to another person just by using the person’s mobile phone number, as well as to pay merchants for goods and services, pay their utility bills, or recharge their prepaid SIM cards (SIM top-up). The services can be accessed 24 hours a day from anywhere, meaning savings in travel costs and time. Nokia is building a wide network of Nokia Money agents, where consumers can deposit money in or withdraw cash from their accounts.”

“We believe mobile financial services offer a market opportunity with long term growth potential. In many countries, mobile phone ownership significantly exceeds bank account usage, suggesting that many mobile phone users have very limited or no access to basic financial services. With more than 4 billion mobile phone users and only 1.6 billion bank accounts, global demand for access to financial services presents a strong opportunity to combine mobile devices with simple but powerful financial services such as Nokia Money,” said Mary McDowell, EVP and Chief Development Officer, Nokia.

Mobile payments will be the next step for delivering financial services to hundreds of millions of people, both urban and rural, who are underserved by existing payment means, especially in emerging economies.

“Rural consumers will particularly benefit from money transfers and, for urban consumers used to online services, we are enabling services such as payment of utility bills, purchase of train and movie tickets, top-ups, all through their mobile phones. Nokia Money is simple to use, secure and available across different operator networks and on virtually any mobile phone. This means millions of new consumers will soon be able to manage all their financial needs from their mobile phone,” said Teppo Paavola, VP and Head of Corporate Business Development, Nokia.

The Nokia Money service will be operated in cooperation with Obopay, a leader in developing global mobile payment solutions, which Nokia invested in earlier this year. The service is based on Obopay’s mobile payment platform, with unique and newly developed mobile elements. Nokia intends the service to be open and interoperable with other payment services as well.

“Obopay shares Nokia’s vision for bringing mobile financial services to millions of people worldwide. We’re excited that Nokia has chosen Obopay’s platform. Nokia’s leading market position, strong brand recognition and global distribution channel, using the Obopay platform with uniquely developed mobile elements, means the Nokia Money service is well positioned to bring the next generation of mobile payment services to the world,” said Carol Realini, Founder and CEO of Obopay.

Nokia Money is the result of a powerful collaboration Nokia is forging between different partners in different markets around the world. It is designed to work in partnership with mobile network operators and financial institutions, involving distributors and merchants in a dynamic ecosystem to seamlessly provide the new services.

“As a result of the innovative partnerships and comprehensive ecosystem we are forging with the banking and financial industry, as well as leading network operators, we believe Nokia Money will bring financial inclusion to many who currently have limited or no access to financial services. Uniting the strengths of the mobile and financial services industries will change the way people around the world can manage their money in the future,” added McDowell.

“Mobile financial services present a high growth sector for Nokia. Nokia’s asset strengths, including consumer brand awareness, distribution capabilities and global relationships should serve as logical and necessary extensions to drive innovation in the mobile payments and banking sector. To be successful Nokia must provide a legitimate bridge between operators, banks networks and security infrastructure in order to unlock the broad uptake of mobile financial services,” said Bob Egan, Global Head of Research and Chief Analyst, Towergroup.

The Nokia Money service will be shown for the first time at Nokia World on the 2nd and 3rd of September 2009 in Stuttgart, Germany, and it is planned to be rolled out gradually to selected markets, beginning in early 2010.

Tags: mobile, mobile money, mobile news, mobile Pay, mobile payment, Mobile Payments, mobile phone, mobile phones, Nokia, Nokia Money, Obopay, payment, payment solution, phone, UPS

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

China’s Alipay Now Accepted for Purchases at mba.com Store

Related posts

VeriFone Announces Pan-European Payment Gateway

Related posts

PayPal X Innovate 2010 Developers Conference

Related posts

American Express and SAP Join Forces to Launch Integrated Payment Solution

Related posts

Mobile Commerce Replaces Wallet

Related posts

Mophie credit card scanner coming to the iPhone

Related posts

VeriFone Announces PAYware Mobile iPhone Payments Solution

Related posts

MasterCard Launches MasterCard Mobile Payments Gateway to Spark Mobile Commerce Globally

Related posts

Are You Accepting Mobile Payments Yet?

Related posts

Nokia Introduces Nokia Money for Mobile Financial Services

Related posts