Tag: mobile payments deal

Mobile payments solution to bring Paydiant and Pulse together

| August 6, 2013

The two companies will be working together to be able to offer a purchasing service to its customers.

Pulse, a debit/ATM network, has now announced that it will be working with Paydiant, which is a cloud based mobile wallet provider that also offers redemption platforms, in order to be able to offer participants a mobile payments and commerce solution.

The Paydiant solution makes it possible for Pulse partners to rapidly deploy contactless transactions.

These partners include both merchants and financial institutions. Pulse is hoping that the new partnership will make it possible for those partners to rapidly and easily take on contactless mobile payments as well as cash access functionalities in order to appeal to consumers who are using their smartphones on a rapidly growing basis for a large number of their day to day activities.

Mobile Payments PartnershipThe capabilities of these two companies could potentially produce a very powerful mobile payments solution.

The mobile payments wallet platform at Paydiant is software based and functions in both existing and the latest smartphones, which include both Android and iOS devices, in addition to with existing point of sale terminals that are already being used by merchants who are participating in the program. This means that there will not be any new hardware required, according to the Pulse news release.

Paydiant has explained that its new mobile payments solution provides two new capabilities that could make it possible to accelerate the use and the adoption of digital wallets via smartphones, while improving the efficiency of the transaction process and enhance the overall consumer experience within any ATM or retail point of sale environment where this service is accepted. Those two capabilities are: a software-only merchant acceptance interface and a white label digital wallet app.

The executive vice president of product management at Pulse, Judith McGuire, spoke of the mobile payments opportunity and partnership with Pulse by saying that “Paydiant’s platform enables us to offer both our financial institution participants and merchant partners their own branded mobile wallet.” She went on to add that “Paydiant’s unique approach is an important part of Pulse’s overall mobile services strategy.”

Mobile payments could benefit from new Nokia and LevelUp partnership

| March 22, 2013

Mobile Payments partnershipThe two companies are working together to use a simple QR code based program to pay for purchases.

LevelUp and Nokia have just announced a partnership together that could help to expand the use of mobile payments by consumers, regardless of whether or not they have NFC technology embedded in their devices, as this system is based on the use of QR codes.

This new partnership has had the two companies working together to introduce the service to various cities.

Consumers and businesses in certain American cities are being targeted by Nokia and LevelUp to help to encourage them to use mobile payments for some of the more routine transactions that are being made. The service works when a consumer signs up for the service and links a debit or credit card to the account. Then, when he or she makes a purchase at a participating merchant’s store (where the terminals are available) the app is loaded on the smartphone and a QR code is generated. This is scanned by the terminal and the associated card is billed.

This mobile payments system can also be used to allow consumers to collect loyalty rewards.

According to Matt Kiernan from LevelUp, the mobile payments service is very quick and easy to use. He stated that the average transaction through the service takes about 9 seconds to complete. Comparatively, the average traditional credit card transaction will usually take up to 15 seconds, while a cash transaction averages around 20 seconds.

The two companies in the partnership are hoping to point out that both consumers and businesses can benefit through the use of the service. This is especially true for the combination of the loyalty campaign option into the mobile payments so that the points or rewards can automatically be recorded into the appropriate account.

According to LevelUp, its processing fee has a flat rate of 2 percent, which is lower than the average fee for traditional credit card processing. It also stated that it allows companies to monitor the success of their mobile payments campaigns so that they can see the data related to their spending and activity of their customers. This can help companies to run future campaigns that are better designed to promote specific behaviors among their customers based on past successes.