Joint solution allows mobile operators and banks to partner in the acceptance of authenticated payments from the mobile handset
London, 23 July 2002 – SmartTrust and Mosaic Software, an international provider of transaction processing software, have announced a partnership that will enable customers of both companies to deploy mobile payments services.
Mosaic Software’s Postilion and SmartTrust’s Delivery Platform (DP) products have been integrated to make it possible for mobile operators and financial services providers to accept authenticated payments from a mobile handset. The solution employs SMS or GPRS messaging to create a secure payment channel from the handset’s SIM card through to its user’s bank account.
"SmartTrust wanted to offer a payment solution that combined both convenience and flexibility whilst fulfilling the strong security requirements of the
banks," explains Matti Heikkila, Director, Finance & Payment Partners at SmartTrust, "our mobile operator customers using SmartTrust Delivery Platform in conjunction with WIB-enabled (Wireless Internet Browser) SIM cards, now have a means of deploying payment services to an entire subscriber base using off-the-shelf interfaces to the banking community."
"Both the mobile and banking industries have been looking at ways of partnering for the delivery of such services. Through our own partnership with Mosaic Software, we are able to offer a joint solution that considers the necessary requirements of both players and offers an unrivalled time to market in the launch of new services," adds Heikkila.
Willem van Biljon, Director of New Business Development at Mosaic Software, is very optimistic about the new partnership. "SmartTrust provides us with a secure mobile interface and delivery platform, enabling us to take our world-leading payment solution from the ATM, POS (Point-of-Sale) and Internet onto the mobile device in a cost effective and user friendly way."
The solution is currently being implemented at a mobile operator, with others due to come on stream later this year.