Infonox and India’s leading wireless transaction platform provider PayMate have jointly announced that they will be developing a suite of mobile payment products for the US market.
Infonox, the provider and operator of the leading platform for the delivery of diversified financial services to Kiosks, ATMs and other delivery channels, will support consumer mobile devices like cell-phones and PDA’s on its platform.
With this alliance, the existing businesses on Infonox platform, which include merchant acquirers, financial service aggregators and banks, will have the instant ability to offer their branded transaction services on cell phones.
The initial multi-application set includes mobile phone versions of transactional services like bill payment, cross border money transfer and POS payments at merchant locations.
Subsequent products to be offered on the mobile channel will include not only transactional services but a variety of business services and systems management services- most of which are already offered by Infonox today.
Through its PCI/SAS70 compliant data-centers Infonox has already certified interfaces into processors of ATM, POS Debit, Credit Cards, Checks, Money Transfer, Bill Payment, Prepaid Cards, Gift Cards, and other transactions.
So far, Infonox had targeted ATM’s, Hybrid Kiosks, PC workstations and POS terminals as the end-points for delivering provider branded financial services. With the addition of a mobile channel to its platform, the reach of the Infonox platform will grow even more.
A statement issued to SDA Asia yesterday said that besides being the dominant platform used to deliver financial services in Casinos, there are major banks/acquirers, merchant processors, ISO’s, financial service aggregators and deployers who access the Infonox platform for delivering their own branded products services. Therefore, the availability of a mobile channel to them, from the Infonox platform, will help these businesses derive new revenue and ensure better service for their customers.
“We are very pleased to enter the world of mobile-commerce. There are at least 10M consumers who have touched our platform to access financial services in the last 3 months - and we estimate that all of them had cell phones,” said Sfwan Shah, Infonox President.
“With PayMate as our partner we are now ready to offer them very compelling Transactional, Business and System Management Services.”
“PayMate with its experience and skills in developing mobile payment applications along with Infonox’s transaction processing abilities and relationships in the US will make this a very compelling proposition. ” said Ajay Adiseshann, MD and Founder, PayMate.
The mobile applications will be based on industry standards like J2ME, BREW, and Windows Mobile and will run over SMS, GPRS and CDMA based protocols.
The applications have been developed to be compatible with major phone models offered by US providers and include BlackBerry, Treo, Motorola, Nokia, Sony Ericsson, Samsung, LG and Windows Mobile based cellular devices. |
