Mobile Payment Magazine

Fortumo Selects Payfone for Direct Mobile Billing

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Payfone, a leading mobile payment processing service, and Fortumo, a leading provider of mobile payments, today announced that Fortumo has selected Payfone to power the direct billing option for its in-app purchasing SDK. This direct billing mobile payment method offers better reliability and higher security as well as better payouts for developers. Through the partnership, Fortumo’s clients will be able to provide consumers with the ability to make safe and secure mobile payments in real-time from any device, such as PC, smartphone, tablet or Wi-Fi.

“We are excited to work with Payfone because of their deep integration with mobile operators’ billing systems,” said Rain Rannu, co-founder of Fortumo. “This in turn will allow us to continue to provide the highest converting in-app purchasing with more payment options for our clients.”

Payfone’s Mobile Commerce Service is directly integrated into the mobile operator’s network, which provides the ability to intelligently identify a consumer’s profile in the system and offers true payment authorization and authentication. Payfone’s Device DNA authenticates the consumer across a wide variety of parameters during the transaction, ensuring they get exactly what they paid for. By pairing the Device DNA to each transaction, Payfone is able determine if a transaction is from a lost or stolen mobile device or if the owner of the mobile account has changed. This translates into one of the most secure and frictionless user experiences, across any device.

Fortumo’s in-app purchasing SDK for Android is the preferred international monetization tool for some of the most popular mobile game and app developers. Payment is done in a single click with no login or registration required. Fortumo’s in-app purchasing library supports both direct mobile operator billing and premium SMS, automatically selecting the best option depending on country, operator and user. It comes with built-in support for consumable and non-consumable items and virtual currencies. Fortumo’s in-app purchasing SDK is available in 61 countries, 22 languages and 42 currencies for any developer for free at http://fortumo.com/in-app-payments

“We are pleased to be working with Fortumo to provide their clients with the most robust in-app mobile payments solution on the market,” said Rodger Desai, chief executive officer, Payfone. “With this partnership, Payfone’s technology will be leveraged for some of the largest mobile payment implementations worldwide.”

Source: PR Newswire

Verizon Wireless and Payfone to Implement Verizon Mobile Payment System

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Verizon Wireless and Payfone, a leading mobile payment processing service, today announced the companies are working together to bring a new mobile payment system to Verizon Wireless customers. When available, the service will allow Verizon Wireless customers to make online purchases from their smartphones, tablets and PCs using numerous payment methods, including charging purchases to their monthly wireless statements or using traditional payment methods through financial institution partners. [Read more…]

American Express and Payfone Partner for Global Mobile Checkout

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American Express  and Payfone  today announced a strategic alliance to create and power a new global mobile checkout service. As part of the agreement, Payfone will combine its advanced mobile authorization and payment services with American Express’ recently launched digital payments platform, Serve.

Working together, Serve and Payfone will provide consumers with the ability to make purchases from online merchants using their mobile phone number at checkout. Consumers will be able to link their mobile numbers to a variety of payment methods including their pre-or-postpaid mobile operator account, as well as via a customer’s Serve account.

“This alliance brings together Serve’s unified online, mobile and real-world functionality with Payfone’s advanced mobile authorization and payment services to deliver a seamless payment solution,” said Dan Schulman, Group President, Enterprise Growth, American Express. “The alliance is an important next step for the international roll out of Serve. We look forward to working with Payfone as we evolve the Serve platform to provide the most advanced payment solutions for buyers and sellers, while setting new standards in security, simplicity and reliability.”

Payfone can leverage the existing assets of mobile operators, such as the global SS7 signaling network for directly connected payment authorization and processing. This approach distinguishes Payfone from other competitors.

Payfone’s IP focuses on driving merchant’s sales conversion and revenue yield while managing fraud using new factors of authentication that are inherent in the mobile operator networks. For consumers, it means greater choice in payment methods and the most frictionless user experience, across any device.

“This relationship will be a defining force in the industry. By teaming up with American Express’ new digital payments platform, Serve, we are not only delivering greater choice to consumers and merchants, with one of the most comprehensive and advanced e-wallets in the industry, we are also enabling mobile operators to participate in the transaction flow and benefit from an entirely new revenue source,” said Rodger Desai, Co-founder and Chief Executive Officer of Payfone. “Over 5 billion people worldwide currently have mobile phones, however less than 2 billion have credit cards. It’s our goal to make the mobile phone number the new accepted way to pay. We look forward to working with American Express and our mobile operator partners in defining and driving the mobile payments industry.

Source: Business Wire

Payfone

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Payfone brings payment processing, telco, and web 2.0 expertise to mobile commerce. The company has rebuilt mobile commerce using their unique intellectual property, and established strategic partnerships with leading telco network operators.

Payfone is a member of the GSMA and is based in New York, NY. [Read more…]