Tag: mobile payments service

The latest services from the companies have been unveiled for use by the retail marketplace.

VeriFone Systems Inc. and The Pinnacle Corp. have both announced their launches of brand new mobile payments solutions for the retail market space, at a time when these unveilings are being made with increasing speed by various entrants to this ecosystem.

This new point of sale service is a part of the partnership that has been made with the National Payment Card Association.

Pinnacle is an automated technology provider for the petroleum and convenience store industries. It entered into a partnership with the National Payment Card Association (NPCA) in order to be able to launch the Pinnacle Palm POS mobile payments service. The solution is designed to give retailers an app that has been customized with their own branding and that will permit consumers who use it to use their smartphones to make purchase transactions instead of a debit or credit card.

This mobile payments solution uses a very simple strategy for its card authorization.

The design of the system means that the mobile payments user will not need to share his or her personal data across a network. Moreover, it also means that the existing infrastructure for the retailer will not need to be changed, said Pinnacle. The Palm POS smartphone transaction service will broaden the partnership between the company and the NPCA for six years.

According to Drew Mize, the chief operating officer from Pinnacle “We are very excited about the launch of our mobile payments strategy, leveraging our existing and successful partnership with NPCA of many years and their portfolio of intellectual property.” He went on to say that they are providing a solution that is outside of PCI’s scope, which “is based on the foundation of standards that is being evaluated by PCATS; and designed to support both outside and inside payments, this solution has potential for rapid deployment by any retailer using Palm POS.”

The NPCA is now offering the mobile payments through Palm POS to users of both Android and iOS based smartphones. At the same time, VeriFone has announced its own portable, countertop, and smartphone transaction systems.

The firm is hoping to take a new step into the industry that will help to promote adoption.

While many have been expecting the mobile payments revolution to have already begun, there are a number of hurdles in front of consumers, making them hesitant to adopt this new technology.

While the main selling angle has been convenience, until now, most consumers don’t find a card swipe inconvenient.

Moreover, using credit and debit cards is a process with which consumers have become quite comfortable, whereas, they are also well aware of the security and other concerns that can be related to the use of technology. Therefore, except for early adopters, many people have held off the use of mobile payments so that they can allow others to be the guinea pigs while they continue with systems that have never caused them much grief in the first place.

Pageonce is hoping to take a new focus in mobile payments by changing its name to Check.

With the new name, Check, the mobile payments company is also hoping to change its angle in order to make it more appealing for use by consumers. They have understood their competition and know that the technology has yet to be proven among consumers in the mass market. Now they have to convince people to leave their plastic cards and choose their smartphones, instead.

Check has, therefore, broadened its focus. They know that mobile payments in store will be a tremendous opportunity, but that isn’t where the industry has reached, quite yet. That said, consumers do like to pay their bills online, and so the company has recognized this and has expanded to offer this opportunity, as well.

According to the chief operating officer at Check, Steve Shultz, “When we started the company, the name Pageonce made sense.” But he added that “We were an aggregator of a person’s financial data — putting it all on one page. But we are now a different company.” While Pageonce allows users to establish ongoing mobile payments of bills, it is also able to offer transactions similar to those from PayPal where money is sent peer-to-peer.

Schultz pointed out that this mobile payments app is the only one that “combines personal finance features and payments on a mobile device.”