Tag: mobile transactions

Mobile payments platform planned through new partnership

Mobile payments firm Monitise has announced its partnership with U.S. Bank, one of the leading financial service firms in the United States. Together, the two organizations will launch a new mobile payments platform and encourage consumers to become more accepting of mobile commerce. Consumers have been growing more interested in mobile payments, but relatively few people are comfortable with managing money on their mobile devices, largely due to the security concerns they have regarding their financial information.

Companies plan to engage consumers through the mobile space

U.S. Bank is no stranger to the concept of mobile payments. The bank has been working to grow more accommodating to mobile commerce in recent years in order to better serve the needs of its customers. The bank has introduced many services that allow customers to manage their accounts from their mobile devices, but its new partnership with Monitise is expected to take its mobile commerce endeavors to a new level. Monitise has extensive experience when it comes to mobile payments and may be able to help U.S. Bank establish a more formidable presence in the mobile space.

Project to receive support from Nellymoser and Digimarc

Specific details concerning the platform Monitise is developing for U.S. bank have not yet been released. The platform is expected to cover product discovery, selection, and instant checkouts, however. The project will also receive support from Digimarc, a digital identification specialist, and Nellymoser, which specializes in mobile marketing and digital media. Backed by such strong support, the mobile payments platform is expected to garner a significant amount of attention from consumers.

Bank intends to be a leader in mobile payments

U.S. Bank has a strong interest in establishing itself as a leader in the mobile payments space. The bank will have to compete in a crowded arena, however, filled with companies that have already established a strong foothold in the sector. Monitise is well versed in this competition, of course, and may be able to help U.S. Bank achieve its goals in the mobile commerce field.

UniCredit and First Data are now conducting a pilot of their first smartphone based transaction solution.

The Italian bank called UniCredit has entered into a partnership with First Data in order to test a new mobile payments service that will be based on the scanning of QR codes.

The pilot is now officially underway and the companies await the first data to gauge its successes.

The testing of the service has already begun, and is using the Mobile Gateway from First Data in order to both generate and to exchange the QR codes required for the mobile payments system transactions between customers and merchants. According to First Data, this system provides the customer and the merchant with a number of different benefits.

The QR codes based system allows for a higher level of security and a lower number of risks per transaction.

By scanning QR codes, it takes out the risks that are connected with having to enter credit card details for making mobile payments. At the same time, First Data also stated that this type of system makes it possible to take advantage of value enhanced service applications, such as offers, coupons, tickets, and paying bills.

The pilot for the system using the QR codes is now underway as the first of a number of different mobile payments services upon which the partnered companies have already agreed to embark. They will be working together in a number of different markets around the globe in order to introduce these new smartphone based services.

According to the First Data president of international regions, John Elkins, “UniCredit has recognized the opportunities that Universal Commerce offers and we are delighted to be working with it to make this a reality for its international customer base.”

There have been a number of different mobile payments services that have already been introduced around the world that currently use QR codes as the method of completing the transaction. Among the most famous for its successes is the system that was implemented by the Starbucks chain of cafes. Its achievements have become a solid example of the possibilities that the technology has to offer.