Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
Tagattitude Reiterates Commitment to NSDT Mobile Money in Nigeria
Mobile payment and security technology company, Tagattitude has reiterated its commitment to mobile money programs in Africa. Mobile payments have skyrocketed, particularly in areas where branch banking is not well developed.
Showcasing the product (called Near Sound Data Transfer or NSDT) at the 2011 Mobile money Remittance summit, at the just concluded 2011 Mobile money Remittance summit, Mr. Femi Akinware, a Tagattitude company director, said the speed at which technology has continued to drive change in the global economy had made mobile payment inevitable in Nigeria, and that Nigerians have no option than to embrace the new mobile payment system that are being offered by modern technologies such as NSDT.
The service was launched for Mobile Payment in June, 2010.
via Vanguard (Nigeria).
Tagattitude’s TagPay Mobile Payment Model Based on Encrypted Audio Signals (NSDT)
While Near Field Communication (NFC) is getting a lot of press lately with the announcement of the Isis partnerships, there are other technologies for mobile payment that don’t require either a specific terminal, nor complex agreements among the various parties.
An example is TagPay, a mobile payment solution developed by a French startup called Tagattitude. The product is based on the NSDT technology (Near Sound Data Transfer), which is simpler to implement than NFC-based systems. The can be used in a variety of applications, such as mobile point-of-sale payment, money transfer, web authentication, or control and authorization of physical access.
More information: Tagattitude
Tagattitude
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.
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