London will be the first city in Europe to have a mass market, NFC-based, mobile payments system, according to Pablo Montesano, Telefonica’s Director of Mobile Financial Services.
Montesano said that the 2012 Olympics would push the introduction of the technology into the London market, making it the first mass market deployment outside of Japan and Korea.
via Mobile Europe – London to lead way in NFC mobile payments.
Intuit’s GoPayment mobile credit card processing solution has been around for a while, but only recently has the system included the ability to swipe a credit card and transmit that swiped data directly via mobile phone.
Since partnering with Mophie, a complete solutions is now available. The Mophie hardware, called mophie marketplace, is concealed inside of a low-profile, soft-touch case. It allows processing of any major credit card by entering card information directly into your iPhone.
The advantage for mobile merchants, such as Farmer’s Market vendors, food cart vendors, mobile service providers (plumbers, window repair, etc) is that the system is quick and easy to set up. The hardware can be purchased from Apple ($179.95), and there’s a free application at iTunes.
Intuit’s GoPayment Pricing:
Monthly Service …………$12.95
Swipe Rate ……………….1.7%3
Keyed Rate ……………….2.7%4
Transaction Fee …………30¢4
Set-up Fees ………………NONE
Cancellation Fee ……….NONE
Monthly Minimum ………NONE
More information:
Go Payment Video:
CPNI, a provider of mobile commerce solutions, has announced that its Phone Authorized Transfer (PAT) mobile payment messaging hub platform is now available in Serbia. The local partner is now committed to provide mobile payment messaging hub for and between institutions providing mobile payments.
CPNI’s Serbian partner is engaged with various large organizations in Serbia to offer mobile phone based payment services. These services include mobile P2P payments, mobile banking, pre-paid payments for utilities such as electricity and water and also covers high transaction volume operations such as payments for taxi services.
via Mobile Europe – CPNI announces mobile payment messaging hub in Serbia.
A recent report from Aite Group forecasts that U.S. mobile bill payments will reach more than $200 billion in 2015.
Aite Group interviewed more than 60 companies in the Fall of 2010 and produced a 65 page report that defines and segments the mobile payment industry, and includes an analysis of the competitive and market trends.
Each one of the multiple categories of mobile payments defined in the report will experience double-digit growth, with mobile payments accounting for US$214 billion in gross dollar volume by 2015, up from US$16 billion in 2010–a 68% compounded annual growth rate (CAGR) between 2010 and 2015.
The report references the following companies: Allstate, Amazon, American Express, Apple, AT&T, Bango, Bank of America, Barclays, Bill2Mobile, BlackBerry, Bling Nation, BOKU, Brink’s, C-Sam, Cashedge, Cellfire, Chase, Chase Paymentech, Cimbal, ClairMail, coupons.com, Coupons Sherpa, Visa’s Cybersource, Device Fidelity, Diebold, Discover, Eagle Eye Solutions, eBay, Euronet, Facebook, First Data, FIS, Fiserv, Foursquare, Gemalto, Global Payments, Google, Gowalla, Green Dot, Groupon, Harland Financial Services, Heartland Payment Systems, Hipcricket, iLoop Mobile, Inside Contactless, Intuit, Jack Henry/iPay Technologies, Kubra, MasterCard, mFoundry, Mobile Coupons, Mocapay, MoneyGram, Monitise Group, mopay, MyWebGrocer, NCR, NetSpend, Nokia, Oberthur Technologies, Obopay, OfferIQ, Online Resources, PayPal, Plastyc, Pyxis Mobile, Research-in-Motion (RIM), Roam Data (Ingenico), Roamware, Rocketbuxx, SK C&C USA, Square, Starbucks, Sybase, T-Mobile, Tetherball, 3i Infotech, Tier Technologies, TransferTo, TSYS, Twitter, U.S. Bank, VeriFone, Verizon, Vesta, Visa, ViVOtech, Waspit, Way Systems, Western Union, Wincor Nixdorf, WirelessLoyalty, Xipwire, Yelp, and Zong.
More information: Aite Group Mobile Payment Report.
Source: Aite Group
Kaizen Communications, a mobile tech firm specializing in mobile payments, distribution of mobile content and mobile campaign management, has announced a partnership on-demand payment processor, Billing Tree. Kaizen was recently acquired by Sunset Brands, Inc.
Billing Tree offers a suite of payment solutions ranging from web payments to check conversions, and is currently processing over 3.4 million transactions per month. The company provides every available option for accepting payments without the need for additional software.
Kaizen’s mobile payment and billing reminder software, Kpay, currently allows customers the ability to pay bills, send and receive funds, and execute point of sale transactions from any mobile phone.
“Integrating with Billing Tree will enable Kaizen to bring mobile bill presentment and payments to a mass audience, allowing simplified mobile payments to become a reality for customers using their SMS enabled mobile device,” says Kaizen’s CTO, Curtis Keith.
Sunset Brand’s U.S. Financial Assets CEO, J. Bert Watson, Sr., adds, “This is a major breakthrough for USFA. Our comprehensive payment solution is patent pending and part of a payment revolution that offers users a more convenient option to pay over traditional methods. Kaizen is currently in negotiations and expecting to sign this week other third party billers which will represent over 15 million bills per month. The impact this has on revenues for USFA moving forward is tremendous.”
US Financial Assets, Inc. is a Financial Services firm with a focus on the strategic acquisition and investment in federally insured banks, mortgage companies, SBA, insurance, mortgage title companies, management and capital consultative services, REIT and distressed real estate holdings primarily in the Southeast Region of the U.S.A. The firm recently acquired Kaizen Communications, implementing several applications within a nationwide launch of mobile payment solutions.
Elavon, a wholly-owned subsidiary of U.S. Bancorp, will market and support VeriFone Systems, Inc.’s PAYware Mobile secure card payment system for the Apple iPhone.
The solution transforms the iPhone into a mobile payment device with a card encryption sleeve that allows merchants to capture data via card swipe, a more secure, cost effective method than manually entering data.
PAYware Mobile will be marketed through Elavon’s established sales channels including bank relationships, telesales, third-party providers and associations. It extends the flexibility of accepting card payments wherever and whenever a merchant requires, and offers real-time reporting including extensive transaction search capabilities. The PAYware Mobile app is PCI compliant, and the card encryption sleeve is compatible with the iPhone 3G and 3GS.
“VeriFone’s PAYware Mobile is a simple, secure and convenient solution ideal for our small business customers,” said Mike Passilla, president and CEO of Elavon. “Technology is rapidly changing the payments landscape, and mobile applications are leading the evolution. The ability to deliver secure, innovative solutions is a cornerstone for driving customer satisfaction and generating new business among merchants that have yet to adopt payment technology.”
“Elavon’s agreement to support PAYware Mobile reflects growing industry excitement over the leading card payment solution for iPhone,” said Paul Rasori, VeriFone senior vice president of marketing. “Elavon’s sales force will significantly expand the marketing reach for this innovative system.”
PAYware Mobile incorporates a stylus for signature capture and a mini-USB port for charging the iPhone while the ergonomic card encryption sleeve is attached. PAYware Mobile incorporates VeriFone’s VeriShield Protect end-to-end encryption technology for secure card payments.
Payment by mobile phone is one step closer now, as AT&T, T-Mobile, and Verizon Wireless have announced the launch of a joint venture called Isis, to build a national network for subscribers to make purchase in physical retail stores using their smartphones. [Read more…]
Tagattitude specializes in mobile payment and security technologies. It was founded in 2005 by smart-card industry expert Yves Eonnet and telecom industry expert Hervé Manceron.
Tagattitude’s core offers are strong authentication solutions for web access and mobile payment solutions designed for un-banked populations.
Tagattitude’s NSDT (Near Sound Data Transfer) technology enables the instant use of ANY phone worldwide as payment tools and authentication devices: all handsets, all networks, no SMS, no downloads, no hassle. NSDT™ uses the mobile phone’s audio channel to transmit secure transaction data (OTP, electronic signatures, certificates…) and is protected by a portfolio of 9 international patents.
Products and Solutions
In 2008, Tagattitude released TAGPAY, its complete mobile payment platform powered by NSDT. TagPay includes proximity and remote payment services such as in-store or online mobile payment, money transfer, and more. TagPay enables banks, payment service providers, and telecom operators to offer accessible and secure financial services to anyone with a phone.
Tagattitude also proposes NSDTbased solutions for other markets including: strong web authentication (VSA), mobile marketing, physical access control, and social networking.
Tagattitude is based in France.
via About Tagattitude.
7-Eleven has participated in various tests of mobile-payment technology with MasterCard (MA), Nokia (NOK), and others. On Nov. 16, the company said it would help customers who want to use their mobile phones for payments—yet lack credit or debit cards—by partnering with PayNearMe, a cash-payment network.
via BusinessWeek.
PayNearMe, the cash payment network, today announced that it has closed a $16 million round of financing led by Khosla Ventures. New investor August Capital and current investors True Ventures and Maveron also participated in the round. The company will use the funds to expand its network of retailer payment locations and payees, and to launch new service offerings, including its new mobile payment option, announced separately today.
PayNearMe also announced that payments veteran Mark Britto, CEO of BOKU and former BillMeLater board member, will join the company’s board of directors.
“We look to work with great entrepreneurs in big markets undergoing disruptive change,” said David Weiden, general partner of Khosla Ventures. “Danny has brought together a terrific team, and we are confident payment services with otherwise un-banked and under-banked consumers will change fundamentally over the next decade.”
“We like to invest in companies that solve problems in large, underserved markets,” said David Hornik, general partner of August Capital. “By combining the broad appeal of cash with PayNearMe’s highly flexible technology platform, the company can serve consumers and payees in almost every industry, including ecommerce, lending and transportation.”
“When I realized that PayNearMe could significantly improve consumers’ financial lives by offering cash payment services that are better, faster and significantly less expensive than existing alternatives, I wanted to get involved,” said Mark Britto, PayNearMe’s newest board member. “Plus, I know from my experiences at BOKU, BillMeLater and FirstUSA how valuable a new payment network can be to merchants if, like PayNearMe, it allows them to unlock large segments of new demand.”
“Every entrepreneur wants to work with board members and investors who share their passion for breaking the mold and building important businesses,” said Danny Shader, CEO of PayNearMe. “With David, David and Mark’s support, we will continue to build our suite of convenient, reliable, inexpensive and fraud-free offerings for consumers and payees across the United States.”
Source: PayNearMe
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