Mobile Payment Magazine

Western Union Provides Mobile Money to M-PESA Subscribers in Kenya

by

Western Union now provides services for consumers to send money directly to the mobile “wallets” of Safaricom M-PESA subscribers in Kenya from 45 countries and territories. According to the company, it’s the first service of its kind in the world.

The expansion of the service to more than 80,000 Western Union Agent locations worldwide follows the successful debut of the offering from Western Union Agent locations and the Western Union website in the U.K.

The service rides on Western Union’s worldwide network and trusted global “hub” for processing cross-border remittances. It also builds on the unprecedented success of M-PESA, a domestic mobile money transfer service in Kenya offered by Safaricom that has attracted more than 13.5 million customers since its launch in 2007.

“We are pleased to extend our service with Safaricom, and we look forward to adding additional functionality for M-PESA users in the near future,” said David Yates, Executive Vice President and President, Business Development and Innovation, Western Union.

The service will allow people to visit one of more than 80,000 Western Union Agent locations in 45 countries and territories across the globe, including the U.S., Canada, Italy and the U.K., and send funds directly to the mobile “wallets” of M-PESA’s 13.5 million subscribers. Funds are delivered generally in minutes.

The service will likely benefit thousands of Kenyans working abroad. According to the Central Bank of Kenya, Kenyans living outside their home country sent US$642 million home in 2010—up from the US$609 million sent home in 2009.

Safaricom CEO Bob Collymore said, “Our customers are very proud of the revolutionary M-PESA service, and this partnership sees us pushing new boundaries to continue to keep Kenya at the forefront of the mobile world. Through this partnership, our customers and their friends and families will benefit from affordable, faster and more convenient international remittances, and the money is available to use straightaway for any M-PESA transaction, or can be withdrawn as cash at any of our 24,000 Safaricom agents.”

Western Union offers the Mobile Money Transfer Service in the Philippines with Smart Communications and Globe Telecom; in Malaysia with Maxis; and in Canada with EnStream. Western Union also has agreements with other mobile operators and banks to introduce the service in the future.

Source: Business Wire

Mobile Payment Solutions Provider Trunkbow Annunces Record 2010 Financial Results

by

Trunkbow International Holdings Limited, a provider of Mobile Payment Solutions (“MPS”) and Mobile Value Added Solutions (“MVAS”) in the PRC, today announced financial results for its fourth quarter and business year ended in December 31, 2010.

Fourth Quarter 2010 Highlights

  • Net revenue increased 200.3% year-over-year to $13.7 million
  • Gross profit increased 127.8% year-over-year to $10.1 million
  • Net income increased 154.1% year-over-year to $8.2 million, or $0.25 per diluted share
  • MPS gross revenue grew 487.1% to $7.0 million
  • MVAS gross revenue grew 105.3% to $6.9 million

2010 Full-Year Highlights

  • Net revenue increased 81.6% year-over-year to $24.4 million
  • Gross profit increased 73.6% year-over-year to $19.5 million
  • Net income increased 63.3% year-over-year to $13.5 million, or $0.44 per diluted share
  • MPS gross revenue grew 24.9% to $12.7 million
  • MVAS gross revenue grew 265.6% to $12.2 million

“We are extremely pleased with our results in the quarter that close a year of many important achievements.  We delivered strong growth in revenue and net income in 2010, and we continued to make progress in the roll-out of our MPS solutions,” said Mr. Qiang Li, Trunkbow’s Chief Executive Officer. “Subsequent to the end of the quarter we completed our initial public offering on the NASDAQ Global Market and raised $20 million in gross proceeds to fund the aggressive deployment of our MPS solution in 2011. We expect our growth momentum to continue as we expand into new provinces and reach agreements with additional carriers, and we look forward to reporting on our progress as we reach important milestones.”

Fourth quarter 2010 Results

Net revenue in the fourth quarter of 2010 was $13.7 million, an increase of 200.3% year-over-year. Gross revenue from MPS grew 487.1% to $7.0 million, driven by our geographic expansion into additional provinces. Gross revenue from MVAS grew 105.3% to $6.9 million from the fourth quarter of 2010, driven by new applications on our MVAS platforms, including Color Numbering and the Mobile Business Card. MPS and MVAS accounted for 50.5% and 49.5% of revenues, respectively.

Cost of revenue in the fourth quarter of 2010 was $3.6 million, compared to $0.1 million in the same period of 2009. The increase in cost of revenue was primarily driven by greater scale and the build-out of Trunkbow’s MPS platform.

Gross profit in the fourth quarter of 2010 was $10.1 million, an increase of 127.8% year-over-year. Gross margin was 73.6% in the fourth quarter of 2010, down from 97.0% in the year-ago quarter.  The year-over-year decline in gross margin was primarily due to sales of lower-margin point-of-sale systems, which carry margins below the corporate average.

Operating expenses in the fourth quarter of 2010 were $1.9 million, an increase of 65.0% year-over-year, driven primarily by the increase in selling expenses to support the roll-out of MPS as well by an increase in R&D expenses to position the Company for future growth. Operating expenses were 13.6% of its fourth quarter revenues, versus 24.7% in the fourth quarter of 2009.

Operating income in the fourth quarter of 2010 was $8.2 million, an increase of 149.2% compared to the same period last year. The operating margin was 60.1% in the fourth quarter of 2010, compared to 72.4% in the year-ago quarter. The year-over-year increase in operating income was due to revenue growth, while the reduction in margin was the result of lower gross margins resulting from a sales mix that included equipment sales, which command lower margins than the Company’s software and system integration businesses.

The Company recorded an income tax benefit of $2,276 in the fourth quarter of 2010, representing a reversal of income tax expense recorded in the third quarter of 2010.  The Company recorded no income tax expense in 2010, as its operating companies were exempt from PRC income tax.  In 2011, Trunkbow’s operating companies will be subject to PRC income tax, although at preferential income tax rates.

Net income was $8.2 million in the fourth quarter of 2010, an increase of 154.1% from the comparable period in 2009. Net margin was 60.0% in the fourth quarter of 2010, compared to 70.9% in the fourth quarter of 2009. Earnings per basic and diluted share in the quarter were $0.25, versus $0.16 in the year-ago quarter.  The share count increased 66.0% versus the year-ago quarter.

2010 Full-Year Results

Net revenue increased 81.6% to $24.4 million in 2010, up from $13.4 million in 2009. Mobile Payment Solutions represented 49% of net revenue for 2010, versus 25% in 2009. Gross profit increased 73.6% to $19.5 million in 2010 from $11.2 million in 2009. The gross margin was 79.8% for 2010, versus 83.5% in 2009 as a result of lower-margin sales of point-of-sale systems. Operating expenses, including selling, general and administrative expenses and R&D increased 99.9% to $5.69 million in 2010. The increase in operating expenses was related to the expansion of the administrative and R&D departments to support growth, as well as the addition of expenses from being a publicly listed company. Interest expense was $0.2 million in, 2010 versus $0.1 million in 2009. Net income was $13.5 million up 63.3% from 2009. Earnings per basic and fully diluted share were $0.44 in 2010 and $0.42 in 2009. The weighted average number of diluted shares increased 58.6% in 2010 versus 2009.

Financial Condition

As of December 31, 2010, the Company had $10.3 million in cash and cash equivalents. Accounts receivable were $25.7 million, versus $10.5 million at the end of 2009.  The increase in receivables was attributable to the rapid increase in revenues combined with the surge in revenues in Q4.  Working capital was $43.8 million at the end of 2010, versus $9.7 million at the end of 2009. Short-term loans were at $1.8 million at the end of 2010.  Shareholders’ equity was $44.5 million, up from $9.8 million at the end of 2009.  Cash from operations was an outflow of $8.6 million, primarily due to the increase in receivables and advances to suppliers for third party software and hardware to be used in the Company’s MVAS and MPS platform deployment in 2011. Cash from investing was an outflow of approximately $1 million, and cash from financing was an inflow of $16.3 million.

Business Outlook

“After a very successful year where we achieved record revenue and net income and made solid progress executing our strategy, we expect our strong performance to continue in 2011,” continued Mr. Li. “In the year ahead, we will leverage our strong R&D capabilities to enhance our product pipeline and develop the next generation of MPS applications. More importantly, we will build on our strong relationships with China’s big three telecom carriers and our resellers to increase market share and expand our MPS platforms into 10 provinces with China Unicom and roll out the new MVAS platforms into 10 new provinces with China Unicom.”

Historically, we have generally experienced a slowdown in revenues in the first quarter due to the Chinese Lunar New Year, since the majority of businesses are shut down for a month-long holiday, though we expect this seasonality to subside as we receive more revenue from recurring streams.

“In 2011, we expect to grow revenues and net income 30%,” continued Mr. Li.

Recent Events

On February 8, 2011 the Company completed an initial public offering of 4,000,000 shares of Common Stock that were priced at $5.00 per share, generating net proceeds of $18.1 million. Following the offering, the Company had 36,507,075 shares issued and outstanding as of March 29, 2011.

Conference Call

The Company will host a conference call to discuss financial results for the fourth quarter and fiscal year 2010 on March 31, 2011 at 8:00 am ET. To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: +1 866 788 0546. International callers should dial +1 857 350 1684. The pass code required is 81340376.

If you are unable to participate in the call at this time, a replay will be available for 14 days starting on March 31, 2011. To access the replay, please dial +1 888 286 8010, international callers dial +1 617 801 6888, and enter the pass code 76634048.

About Trunkbow

Trunkbow International Holdings (NASDAQ: TBOW), is a leading provider of Mobile Payment Solutions (“MPS”) and Mobile Value Added Solutions (“MVAS”) in PRC. Trunkbow’s solutions enable the telecom operators to offer their subscribers access to unique mobile applications, innovative tools, value-added services that create a superior mobile experience, and as a result generate higher average revenue per user and reduce subscriber churn. Since its inception in 2001, Trunkbow has established a proven track record of innovation, and has developed a significant market presence in both the Mobile Value Added and Mobile Payment solutions markets. Trunkbow supplies to all three Chinese mobile telecom operators, as well as re-sellers, in several provinces of China. For additional information please visit http://www.trunkbow.com

Safe Harbor Statement

This press release contains forward-looking statements that reflect the Company’s current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.  Such forward looking statements involve known and unknown risks and uncertainties, including but not limited to uncertainties relating to the Company’s relationship with China’s major telecom carriers and its resellers, competition from domestic and international companies, changes in technology, contributions from revenue sharing plans and general economic conditions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs.  You should understand that the Company’s actual future results may be materially different from and worse than what the Company expects. Information regarding these risks, uncertainties and other factors is included in the Company’s annual report on Form 10-K and other filings with the SEC.

– FINANCIAL TABLES FOLLOW –

TRUNKBOW INTERNATIONAL HOLDINGS LIMITED 

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Three Months Ended December 31, Year Ended December 31,
2010 2009 2010 2009
Revenues $ 13,944,715 $ 4,560,235 $ 24,843,836 $ 13,468,581
Less: Business tax and surcharges 285,480 11,521 455,919 38,624
Net revenues 13,659,235 4,548,714 24,387,916 13,429,957
Cost of revenues 3,603,620 134,551 4,929,974 2,220,577
Gross margin 10,055,615 4,414,163 19,457,942 11,209,380
Operating expenses
Selling and distribution expenses 543,335 127,858 1,412,499 533,633
General and administrative expenses 837,392 859,624 3,075,833 1,877,732
Research and development expenses 470,673 134,501 1,203,264 435,712
1,851,400 1,121,983 5,691,596 2,847,076
Income from operations 8,204,215 3,292,180 13,766,347 8,362,303
Other (income) expenses
Interest income (19,998) (80) (37,204) (350)
Interest expense 30,741 66,016 220,668 66,016
Other expenses 3,515 2,271 41,998 3,655
14,258 68,207 225,462 69,321
Income before income tax expense 8,189,957 3,223,973 13,540,885 8,292,982
Income tax expense (2,276) — — —
Net income 8,192,233 3,223,973 13,540,885 8,292,982
Foreign currency translation fluctuation 751,422 67,494 1,170,811 (92,830)
Comprehensive income $ 8,943,655 $ 3,291,467 $ 14,711,696 $ 8,200,152
Weighted average number of common shares outstanding
Basic and diluted 32,472,075 19,562,888 31,022,002 19,562,888
Earnings per share
Basic and diluted $ 0.25 $ 0.16 $ 0.44 $ 0.42
TRUNKBOW INTERNATIONAL HOLDINGS LIMITED 

CONSOLIDATED BALANCE SHEETS
December 31,
2010 2009
ASSETS
Current assets
Cash and cash equivalents $ 10,259,750 $ 3,305,473
Restricted deposit 362,987 —
Accounts receivable 25,658,184 10,455,284
Advances to suppliers 6,881,368 7,580
Loans receivable and other current assets, net 3,900,168 1,078,075
Due from directors 79,256 2,088,168
Inventories 3,681,450 307,182
Total current assets 50,823,163 17,241,762
Property and equipment, net 484,761 39,817
Long-term prepayment 358,397 —
TOTAL ASSETS $ 51,666,321 $ 17,281,579
LIABILITIES AND STOCKHOLDERS‘ EQUITY
Current liabilities
Accounts payable $ 853,762 $ 331,654
Accrued expenses and other current liabilities 593,846 603,266
Short-term loan 1,814,937 —
Due to directors — 24,430
Contingently convertible notes — 5,000,000
Taxes payable 3,718,963 1,561,599
Total current liabilities 6,981,508 7,520,949
Other non-current liabilities 138,767 —
Total liabilities 7,120,275 7,520,949
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS‘ EQUITY
Preferred Stock: par value USD0.001, authorized 10,000,000 shares, issued
and 0 outstanding at December 31, 2010 and  2009		 — —
Common Stock: par value USD0.001, authorized 190,000,000 shares, issued
and outstanding 32,472,075 shares at December 31, 2010 and 19,562,888 at
December 31, 2009		 32,472 19,563
Additional paid-in capital 21,384,050 1,323,239
Appropriated retained earnings 2,428,847 1,010,486
Unappropriated retained earnings 20,125,001 8,002,477
Accumulated other comprehensive income/(loss) 575,676 (595,135)
Total stockholders‘ equity 44,546,046 9,760,630
TOTAL LIABILITIES AND STOCKHOLDERS‘ EQUITY $ 51,666,321 $ 17,281,579
TRUNKBOW INTERNATIONAL HOLDINGS LIMITED 

CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended December 31,
2010 2009
Cash flows from operating activities
Net income $ 13,540,885 $ 8,292,982
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization 93,135 20,362
Loss on disposal of property and equipment — 1,281
Provision for doubtful debts 366,912
Changes in operating assets and liabilities:
Accounts receivable (14,480,828) (9,791,845)
Advance to suppliers and other assets (6,369,759) 95,224
Inventories (3,280,951) (307,017)
Long-term prepayment (784,576) (241,583)
Accounts payable 498,222 (85,218)
Accrued expenses and other current liabilities 118,273 383,859
Amount due to directors (24,641) 24,417
Taxes payable 2,052,307 (64,827)
Net cash flows used in operating activities (8,637,933) (1,305,453)
Cash flows from investing activities
Acquisition of property and equipment (449,169) (4,729)
Loans to third parties (2,579,165) 57,070
Collection in (increase in) amount due from directors 2,028,869 (877,876)
Collection in long-term receivables — —
Net cash flows (used in) investing activities (999,465) (825,535)
Cash flows from financing activities
Increase in restricted deposit (362,987) —
Proceeds from issuance of common stock (net of finance costs) 17,073,720 100,000
Repayment of loans from third parties (147,520) (53,618)
Repayment of contingently convertible notes (2,000,000) —
Proceeds from issuance of contingently convertible notes — 5,000,000
Proceeds from short-term loan 1,770,238 —
Net cash flows provided by financing activities 16,333,451 5,046,382
Effect of exchange rate fluctuation on cash and cash equivalents 258,224 (100,880)
Net increase in cash and cash equivalents 6,954,277 2,814,514
Cash and cash equivalents – beginning of the year 3,305,473 490,959
Cash and cash equivalents – end of the year 10,259,750 3,305,473
Supplemental disclosure of cash flow information
Cash paid for interest $ 220,668 $ —
Cash paid for income taxes $ — $ —
Supplemental disclosure of noncash financing activities
Conversion of contingently convertible notes to common stock $ 3,000,000 $ —

Source: PR Newswire

BillingTree Featuring Text Bill Presentment and Authorization at EEI/AGA Customer Service Conference

by

On-demand payment processor BillingTree will feature its Mobile Solutions Suite including text notification and payments,  Pre-Funded accounts and mobile optimized web forms along with PaynCash, EBPP and Account Verification tools at next week’s EEI/AGA Customer Service Conference.

The Edison Electric Institute and American Gas Association (EEI/AGA) Customer Service Conference & Exposition is a premiere utility industry customer service annual event. Utility professionals from all levels involved in customer service activities, encompassing customer call centers, benchmarking, meter reading, remittance processing, telephone centers, credit/ collection, customer accounting, mail center operations, training, branch/business office operations and related areas will attend.

Mobile payment options offer greater convenience for customers on the go, and provide a tool for organizations to communicate directly with their customers about possible service outages etc., as well as any outstanding bills.

BillingTree supplies  a leading fully integrated, multi-channel electronic payment platform to a growing list of Industries, including Insurance, Utilities (such as energy, cable, municipal, and phone), as well as Healthcare and Subscription-billed services. Benefits of electronic payment solutions include an accelerated availability of consumer funds, reduced costs associated with manual-payment processing, improved cash management, and integrated processing by managing all payments, returns, and corrections through a single portal.

Source: BillingTree

Develping Mobile Banking Channel for Corporate Clients is Top Prioirty for Bankers, Says Survey

by

Developing a mobile banking channel for their corporate clients is a top priority for bankers, according to a recent survey by Fundtech. The results of the survey, taken among bankers on the topic of mobile banking,  show that many bankers think it has the potential to become an important competitive differentiator. By far, the major concern is related to security and fraud issues.

Key Findings

The survey of 267 bankers was fielded in March and has the following key findings:

  • 54% say that developing their mobile corporate banking services is a top or very important priority
  • 42% rated their customer’s interest as either extremely or very high
  • 31% believe that mobile corporate banking will become a competitive differentiator for their bank; however 38% see it becoming just another service delivery channel
  • 77% think fraud/security concerns are the biggest barriers to growth in mobile corporate banking.

George Ravich, Chief Marketing Officer of Fundtech comments: “The results of the survey show strong interest in developing the mobile corporate banking channel. One interesting dichotomy was revealed: while only 15% of those bankers surveyed see mobile corporate banking as a revenue opportunity, our recent survey done in partnership with Aite Group revealed that 49% of corporate treasurers are willing to pay for such services. This suggests that banks may still not yet fully realize the business opportunity for mobile banking.”

Fundtech develops transaction banking solutions that automate activities such as payments, cash management, settlement, liquidity management, and the financial supply chain.

Source: Fundtech

Mobile Financial Solutions Providers Advocate Open Mobile Money Transfer Ecosystem

by

Money Transfer Industry Urged to Inter-connect at IAMTN Conference: Luup and Dhasatra Advocate an Open Mobile Money Transfer Ecosystem.

Luup, a mobile financial solutions provider with offices in UAE, Norway and the UK, outlined key success factors for building a seamless remittances ecosystem that includes challenging geographies such as Indonesia. The information was presented at the MTD conference held in Dubai by the IAMTN, the international trade association for the money transfer industry.

According to Saqib Iqbal, Regional Director Asia Pacific for Luup, “Users want cost-effective interconnected money transfer services that they can access from any provider, anytime, anywhere.” He added: “Mobile technology enables such efficient services, yet they depend on co-operation and the building of payments gateways, seamless remittance interconnections and cash-out facilities.”

Indonesia is a particularly challenging geography due to a largely unbanked population spread over hundreds of islands. The proliferation of mobile phones though makes it highly conducive to mobile enabling services. Seizing this opportunity to bring cost effective, real time remittance solutions to its customers, Dhasatra Indonesian Remittance, has joined Luup’s expanding, open mobile money transfer ecosystem.

Luup will mobile enable the inbound remittance corridor to Indonesia for Dhasatra and the subsequent distribution into Dhasatra’s extensive network in the country. Both banked and unbanked will be able to remit into bank accounts of 120 banks or cash out from bank and post office branches as well as telecom franchisees.

In 2010 alone inbound remittances to Indonesia amounted to around US$ 11Bn. The fast growing numbers of Indonesian migrants in the Middle East in particular are set to benefit from this increased convenience. The UAE, for example, ranks fourth globally with its sending volume to Indonesia and Luup already has an established payments gateway serving users in the Middle East. Luup’s regional presence provides Dhasatra with access to more sending institutions and other key partners in the Luup ecosystem.

Nicolas R. Dharmawan, President Director of Dhasatra, joined Luup at the MDT conference in advocating seamless mobile money transfers and gave examples of business benefits his company is gaining: “Partnering with Luup brings more remittances volume and traffic to Dhasatra and ultimately increases revenue. We are also excited about opportunities we will be able to pursue in Indonesia for m-commerce and domestic mobile money transfers as the partnership evolves further.”

The Money Transfer Dubai conference was held on the 29th March in Dubai and Luup demonstrated its solutions on its stand as well as speaking on the conference stream ‘Business opportunities and Challenges’.

More information: IAMTN

Source: PR Newswire

Gemalto Mobile NFC Payment Application Certified by MasterCard

by

Digital security company, Gemalto, has announced the first UICC-embedded software application compliant with Mobile MasterCard PayPass M/Chip 4, the brand new MasterCard payment specification designed for mobile near field communications (NFC).

The software application and the UICC have both successfully achieved the compliance assessment and security testing certification in accordance with MasterCard’s highest chip security requirements.

The certification paves the way for mass commercial rollouts of NFC payment across the world. In the UK, Gemalto is already partnering with a global, first-tier financial institution and a world leading mobile operator, to implement the new MasterCard certified mobile payment application and carry out the solution’s first mass commercial roll out.

Gemalto’s software application embeds the Trusted Service Management interface for PayPass. This feature enables mobile account issuance and over-the-air management. Its handset interface makes mobile NFC payment convenient—for example allowing consumers to manage the new payment means and check transaction history. It also allows consumers to define their mobile Personal Identification Number (PIN), a code of their choice, through their phone. The mobile PIN is a new cardholder verification method used notably to secure operations such as account top-up from the mobile phone.

The Gemalto mobile NFC payment application can be configured to cover all card portfolios including debit, credit and prepaid. For prepaid, the software application lets consumers to top-up their prepaid accounts directly from their mobile phones.

“We are pleased to collaborate with Gemalto to broadly expand the use of mobile payment services,” commented James Anderson, vice president, Mobile, MasterCard Worldwide. “Leveraging the interoperability of MasterCard PayPass, Gemalto’s effort will enable cross-border mobile NFC payment, adding ease to the fast-paced lifestyles of more and more consumers across the world.”

“This new certification from MasterCard makes Gemalto the first on the market for this mobile product and will enable banks and wireless operators to offer a secure, innovative and convenient payment means to their entire customer base,” added Jean-Claude Deturche, senior vice-president of mobile financial solutions at Gemalto. “Gemalto is committed to supporting its customers in their large scale deployments of mobile NFC payment, with a complete mobile contactless offer.”

Source: Gemalto

Google Teams Up with MasterCard for Mobile Payments

by

Google Inc. is teaming up with MasterCard Inc. and Citigroup Inc. to embed technology in Android mobile devices that would allow consumers to make purchases by waving their smartphones in front of a small reader at the checkout counter, according to people familiar with the matter.

The Internet giant is aiming to make mobile payments easier in a bid to boost its advertising business. The planned payment system would allow Google to offer retailers more data about their customers and help them target ads and discount offers to mobile-device users near their stores, these people said. Google isn’t expected to get a cut of the transaction fees.

via Wall Street Journal.

CHARGE Anywhere Releases Mobile POS Payment App for iPhone

by

CHARGE Anywhere, a provider of mobile payment solutions and payment gateway services, has released  CHARGE Anywhere for iPhone, a mobile payment application for iOS devices.

CHARGE Anywhere offers three Magnetic Stripe Readers (MSR); An audio jack MSR, a receipt printer with an integrated MSR and an MSR cradle.  Signatures can be captured and receipts can be printed or be emailed to customers.  Transactions processed via an iPhone can also be seamlessly uploaded into QuickBooks through CHARGE Anywhere payment software designed for use with QuickBooks.

In addition to credit card payments, the CHARGE Anywhere mobile payment app allows cash transactions, check transactions and ACH/echeck payments. “With CHARGE Anywhere’s App on your iPhone, sales will increase by enabling customers to pay their bills in multiple forms at the point-of-sale,” said Dmitriy Lerman, Director of Marketing at CHARGE Anywhere.

CHARGE Anywhere’s mobile payment software and payment gateway solutions are supported by virtually all major card processors in the US and Canada.

“CHARGE Anywhere is excited to release our award-winning app on the iOS platform. We couldn’t be more excited that our CHARGE Anywhere App is now running on the Apple Platform!  Our Mobile Payment App can be downloaded on the iPhone, iPad and iTouch and allows business owners to accept credit cards for their business anywhere, anytime. Now, CHARGE Anywhere is making our feature-rich payment app more accessible by enabling businesses to complete cash and check sales with a free download,” said Paul Sabella, CEO of CHARGE Anywhere.

CHARGE Anywhere offers three Magnetic Stripe Readers (MSR); An audio jack MSR, a receipt printer with an integrated MSR and an MSR cradle.  Signatures can be captured and receipts can be printed or be emailed to customers.  Transactions processed via an iPhone can also be seamlessly uploaded into QuickBooks® through CHARGE Anywhere payment software designed for use with QuickBooks.

In addition to credit card payments, the CHARGE Anywhere mobile payment app can empower cash transactions, check transactions and ACH/echeck payments. “With CHARGE Anywhere’s App on your iPhone, sales will increase by enabling customers to pay their bills in multiple forms at the point-of-sale,” said Dmitriy Lerman, Director of Marketing at CHARGE Anywhere.

CHARGE Anywhere’s mobile payment software and payment gateway solutions are supported by virtually all major card processors in the US and Canada.

Source: PR Newswire

BOKU Partners with O2 and mpass for Direct Mobile Billing Services in Germany

by

Telefónica O2 Germany, a provider of broadband and mobile services, and BOKU Inc., an online mobile payments company, today announced a direct carrier billing relationship. Under the agreement, O2 customers can  use BOKU’s payment platform to purchase virtual and digital goods ranging from .09 Euros to 30 Euros. O2 customers pay for goods by entering their mobile number and charging directly to their mobile phone carrier bill.

O2 is part of Telefónica, a global provider of broadband and mobile services, and the second largest carrier group in the world. O2’s mpass system allows direct carrier billing for the purchase of virtual, digital and physical goods.

This new partnership integrates the BOKU mobile payments platform into O2 Germany’s operator billing interface, enabling the following features:

  • Support for one-off and subscription payments in Germany
  • Full pricing granularity from .09 Euros to 30.00 Euros
  • Authorization and Capture APIs with refund support
  • In-App Billing support
  • Web Billing support

“This agreement opens up the opportunity for BOKU merchants to offer payment for physical goods as well as virtual and digital goods,” said James Patmore, Managing Director, BOKU in EMEA. “Our partnership with O2 confirms our vision of evolving online mobile payments into a range of new vertical markets.”

“Understanding customer needs and merchant requirements in regards to our payment products is essential for continuing our success story in the mobile payment area. A close collaboration with BOKU ensures we position ourselves closely to the key players in the market,” said Michiel van Eldik, Managing Director Wholesale and Partner Management, Telefónica O2 Germany.

“We want to provide our customers with a safe, reliable, and convenient payment solution to pay for goods, be they virtual or physical,” continued O2’s van Eldik. “BOKU’s mobile payments platform has the right blend of technology and finance-grade infrastructure to mesh well with O2 customer needs.”

BOKU’s bank-grade mobile payment service is available to online merchants and publishers on a global scale. The BOKU service enables merchants and publishers to drive incremental revenue by offering carrier billing as a payment option to their customers. BOKU is connected to 230 mobile operators in more than 65 countries, and provides access to more than 2.5 billion potential customers who can pay by mobile.

Source: Business Wire

Behind the Scenes, Businesses Battle Over Mobile Wallets

by

While NFC technology is already being installed in millions of phones, wide adoption of the so-called mobile wallets is being slowed by a major behind-the-scenes battle among corporate giants. Mobile phone carriers, banks, credit card issuers, payment networks and technology companies are all vying to control these wallets. But first, they need to sort out what role each will play and how each will get paid.

via New York Times.