MobilePayUSA announced that private beta-testing of their non-NFC mobile
payment solution has begun at the Tutti Frutti Frozen Yogurt in Balboa Island,
California.
Instead of waiting for NFC technology to
become viable, Tutti Frutti is using the Virtual Terminal offered by
MobilePayUSA for PC-based POS systems.
MobilePayUSA has released a promotional video showing an actual mobile payment
transaction taking place using their Virtual Terminal system.
Unlike other e-wallets, MobilePayUSA does not
use RFID chips embedded in smart phones that hold credit card numbers in order
to process payments. Credit information is never stored on the phone or shared
with the merchant with MobilePayUSA. This difference, MobilePayUSA declares,
will prove to make their system more secure from the real threat of illegal
skimmers and hackers.
Unlike their NFC competitors, the platform offered by MobilePayUSA requires no
expensive hardware upgrades. Instead, MobilePayUSA solution uses existing
hardware to make the dream of mobile payments a reality, thus taking the cost
hurdle out of the race for nationwide adoption.
MobilePayUSA will begin public beta-testing of their system by Q4 2011.
By TelecomLead.com Team
editor@telecomlead.com
