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xpWallet Launches NFC Merchant Payments Product
xpWallet, the next generation mWallet products and services provider, has launched an NFC merchant payments product for the mobile operators, retail chain-stores, utility companies, and mobile financial service providers.
The company’s technology has been designed to boost mobile money transactions, provide flexibility and security as well as secure cashless experience. The subscribers can use their mobile wallet with built-in NFC functionality to pay for any retail transactions.
The NFC merchant Payments product is available with web and handset-based user interfaces, USSD menu, and with and without NFC Tags interfaces.
Advanced security features for NFC:
1. User NFC Device is first registered in the application
2. At the time of making a transaction, the subscriber’s name is displayed on the POS machine. Depending upon the NFC reader capability, subscriber name can also be printed
3. The subscriber is asked to enter his pin on the POS machine
4. SMS is sent to the subscriber after completion of the transaction.
“This announcement represents the first complete solution available for merchant payments to reduce payment processing costs," says Rohtas Chabra, Vice President – Product and Technology at xpWallet. “The new product is truly comprehensive and enables subscribers to make payments with their mobile phone with built-in NFC functionality after entering a PIN." He explains.
xpWallet is a company with a global perspective, but a keen customer focus to ensure an enhanced and comprehensive digital experience. The company's focus is on delivering software to financial institutions and payment processors in Asia Pacific, Africa, Europe, the Middle East and the Americas.
xpWallet is uniquely positioned to become a key contributor in growing mCommerce space. The company constantly works with its commercial partners to develop integrated business solutions; provides customized, value-added services; and profitably grow their businesses.
xpWallet’s product range consists of Core Mobile Money platform, mWallet Enterprise Suite and Xpert Analytics Engine; including the Promotion Engine, My Deal, Pay Parking, Merchant Payments, Bill Pay and NFC Payments.
For more information please visit at http://www.xpwallet.com/
Page Updated Last on: Jun 02, 2012