Tag: mobile payments services

New mobile payments service launched in Canada

| November 12, 2013

Moneris launches new mobile payments service

Moneris Solutions, a Canadian payment processor, has launched a new mobile payments service called “Payd Pro.” The new service is designed to be used alongside debit cards, allowing the financial information associated with these cards to be used by a mobile device. The mobile payments service is meant to make commerce more convenient for consumers that are constantly on the go and could be ideal for commuters that have little time to shop at physical stores.

Payd Pro utilizes Bluetooth technology

Unlike other mobile payments services, Payd Pro is not based on NFC technology. This is because NFC-enabled mobile devices are still quite rare among consumers and NFC has begun to attract a significant amount of criticism regarding its security. Instead, Payd Pro utilizes Bluetooth technology in order to make it more accessible to both iOS and Android devices. The Payd Pro application offers a variety of mobile commerce management tools that have been developed by Moneris. These tools have been quite well received by small businesses in Canada that have used them in the past.

Canada Mobile Payments ServiceService encrypts card data at transaction

Payd Pro encrypts the card data that it uses at the time of transaction. This is meant to provide security for the financial information that is being used to conduct mobile payments. Security has become a major issue when it comes to the world of mobile commerce due to the malicious parties that have been attracted to this rapidly growing sector. Hackers have shown interest in mobile commerce because of the relatively low-level security systems that many platforms are equipped with.

Consumers and businesses showing increasing interest in mobile payments

Canadian consumers have been growing more interested in mobile payments in recent years, largely due to the growing levels of smartphone and tablet ownership. As more people are exposed to the concept of mobile commerce, the more they are demanding mobile payments services that are both secure and easy to use. Moneris has been able to meet this demand to some degree with its variety of mobile commerce services offered to consumers and businesses alike.

Mobile payments firm raises $6 million in funding

| November 1, 2013

Mobile payments firm gains momentum through Series B funding

Mobile payments firm Flint has managed to fly below the radar through much of this year, but the company has begun attracting significant attention as it makes progress with its mobile commerce endeavors. The firm recently announced support for the Android platform in order to expand the reach of its mobile payments services. This week, Flint announced that it has raised more than $6 million in Series B funding, led by the Digicel Group and SVG Partners. Funding from the Digicel Group may provide some insight on the future of Flint.

Digicel leads Series B funding for Flint

The Digicel Group is not a well known name in the U.S., but is quite prominent in the Caribbean and the South Pacific. The organization operates within the mobile sector and has a strong interest in mobile payments and providing wireless services to consumers. The Digicel Group has, to some extent, become a popular alternative to more conventional telecommunications companies. Both Flint and Digicel share a lot in common, as both companies look to bring new life to the mobile space.

Mobile Payments fundingFlint aims to make mobile payments easier for merchants

Flint was launched in May of 2012 and aims to make it easier for new entrepreneurs to enter into the mobile space and embrace mobile payments. The firm offers services that allow businesses to process mobile payments in a convenient manner and without the need for a dedicated point-of-sale system. Using the Flint application, merchants can scan a consumer’s credit or debit card and process a payment quickly, using a fingerprint to authorize transactions. Flint also offers competitive rates when compared to services offered by similar companies.

Funds will help company expand

The funding that Flint has risen will help the company to improve its various mobile payments technologies. It will also help the company expand its team of developers, which is currently 16 people strong. Much of the company’s future plans are kept secretive, however, which may be a good thing considering the aggressive competition that is common in the mobile payments sector.