Tag: mobile payments

Hybrid PayTech is now working with Smart eMoney to provide the country with smartphone transactions.

The announcement has just been made by Hybrid PayTech World Inc. that it has partnered with Smart eMoney Inc. (SMI), the Smart Communications Inc. financial services subsidiary in order to provide Philippines with new mobile payments options and services.

The two companies are collaborating for a brand new transaction platform ecosystem.

The purpose of this new platform is to give retail and enterprise businesses in the Philippines with new mobile payments opportunities. This new agreement will have SMI using the HybridVIRTUO Ecosystem platform for rolling out a new smartphone friendly point of sale system. This will include a range of different solutions that are touted as being easy to integrate with PoS systems that are already in place.

The platform will make it possible for SMI to deploy a complete mobile payments suite for businesses.

This system will be designed for a wide range of device compatibility, to work with mobile devices based on Android, iOS, BB, and Windows 6, 7 and 8. The platform from Hybrid, which makes it possible for interoperability from multiple types of devices is based on audio-jack or Bluetooth transaction acceptance units.

It will give SMI clients the ability to receive transactions through mobile PoS MasterCard credit cards. This is designed to make accepting the cards and the processing of the transaction quick and convenient.

There are also plans in the works to make it possible for SMI to offer online debit through the use of a PIN system. This would make it possible for smartphones to be used for transactions through Philippine Automated Teller Machine (ATM) cards. Other mobile devices that could be used for this purpose will be tablets and mobile enterprise devices.

Beyond being compatible with all major smartphone platforms – as well as the major and local device brands – the mobile payments system is also compliant with Payment card Industry Data Security Standards (PCI-DSS). That is the worldwide security standard that is meant to help to considerably reduce the risk of data fraud through the evaluation of account data security and an assessment of the network architecture of an organization, in addition to its security policies, software design, its procedures, and its protective practices.

PayPal continues to establish lead in mobile field

PayPal has been making waves in the mobile commerce field and has established itself as a leading service provider for mobile consumers. In September 2013, PayPal was able to solidify its place in the mobile world with the launch of Beacon, a promising mobile commerce platform designed to streamline payments being made from a mobile device. The company has announced that it will begin showing more attention to the e-commerce world this year and has plans to further expand the availability of Beacon.

Checkout platform aims to streamline e-commerce

PayPal has introduced a new checkout platform that is designed specifically for e-commerce merchants. This platform is meant to streamline the checkout process for online customers, making it easier and faster for people to purchase products through online retailers. The new platform allows consumers to remain on a retailer’s website in order to complete a transaction using PayPal instead of first having to be redirected to PayPal’s site. The company suggests that this process will be easier for consumers and more beneficial for retailers in the long term.

Payment Code to see expansion

PayPal is also working to expand the use of its Payment Code, which allows consumers to scan a QR code or use a four-digit code to pay for products in physical stores. The Payment Code is meant to make physical retail stores more accommodating of mobile commerce, allowing retailers to form a more cohesive connection with mobile consumers. Currently, Payment Codes are available in 1,500 stores in the United Kingdom and PayPal plans to expand the availability of this platform over the coming months.

Beacon integration with PayPal app continues

Furthermore, PayPal is working to integrate its Beacon mobile commerce platform into the PayPal application. This is expected to be completed within the coming months and will allow app users to take advantage of Beacon more easily. The company’s current projects are still in a small-scale testing phase, but PayPal expects to expand these projects quickly as they become more developed and their potential problems are mitigated.