M-Commerce
Recognizing the enormous revenue-earning potential in carrying out secure payments directly from a cellular phone has ensured that building a secure model for mobile commerce has become a priority among network operators, merchants and financial institutions alike.
The largest challenge to the network operators in particular is in implementing the infrastructure necessary to enable subscribers to pay for low-value or micro payments as well as higher value goods and services or macro payments, which call
for authentication from a variety of payment bodies as well as the need to handle significantly higher levels of risk and dispute management.
Mobileway provides solutions to both micro and macro billing, ideally suited to meet the challenges and ensure that m-commerce can finally achieve its true potential.
Instant Premium Service for Micro billing –Mobileway’s product is a
micro-payment platform based on premium SMS billing allowing any company to offer its customer a new application or service no matter how low the value. With a web or SML self-monitoring and reporting module and a provisioning interface for creation of accounts and service across target countries, operators, and the various tariffs and desired net payback, Mobileway’s micro-payment platform is both flexible and convenient to use.
Mobile Transaction Tracker – Mobileway’s macro solution is designed to reduce fraud and ensure secure cardholder authentication when dealing with mobile macro payments. Mobileway’s interactive platform is ideal for credit/debit cardholder authentication following an
SMS or telephone order*, utility bill payment or any other high value transaction including fund transfers or stock trading services.
The solution is offered to issuing banks as a cost-effective way to authenticate their cardholders via their mobile phone and is currently under consideration for standardization by the Mobile Payment Forum. Mobileway’s solution works by managing a request and response tracking mechanism. For each new transaction, a unique service number is dynamically allocated in order to originate the message sent to the consumer and track the response from the consumer.
*SMS Check Out - Mobileway's SMS order
solution is fast and secure; the first time a customer
places an order the mobile number will be recognised as
a new user and the merchant will call the customer
directly to register the necessary details to process
the order. Merchants can also leverage their existing
customer base and recruit mobile consumers when they
place a voice order by asking their mobile number and
adding it to their existing profile.
Consumers will then have the possibility to carry out
subsequent orders via SMS, eliminating the need for a
telephone call and so speeding up the transaction time
considerably. The 'device present' nature of SMS where
the mobile number is automatically registered with each
message ensures that fraud is minimized. The new SMS
ordering platform from OrderMotion and Mobileway also
offers merchants enhanced security by simultaneously
offering them credit card hosting, order processing and
SMS connectivity.
