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MARKETS » NFV Pandemic Tech News
November 25, 2008
Sybase 365, Paybox in Mobile Payment DealBy Narayan Bhat, TMCnet Contributing Editor In an attempt to reach out to a more diverse group of customers, mobile messaging service provider Sybase 365 and mobile payment solutions vendor paybox have announced they are entering a partnership to combine their offerings.
According to analysts, the deal is destined to pave the way for paybox’s mobile payment software to leverage Sybase (News - Alert) 365’s integrated mobile messaging services and offer customers an open mobile payment infrastructure standard.
“This agreement is a natural progression of where the market is headed and what customers are demanding from their mobile phones,” said Eckhard Ortwein, CEO of paybox.
The agreement supports a global effort to generate momentum for mobile payment services and help financial institutions, mobile operators as well as merchants.
The companies also plan on setting global standards for mobile commerce by combining mobile messaging and mobile payments offerings.
Founded in 1999, German mobile payments company Paybox was the first to launch mass-marketable mobile payment solutions in five European markets.
A subsidiary of Sybase Inc, Sybase 365 (News - Alert) processes more than 200 billion messages every year and reaches more than 700 mobile operators and 3 billion subscribers around the world.
For Sybase 365 - which appears to be on a spree of wrapping up partnership deals - the deal provides a stage for widening the mCommerce footprint that includes remote mobile payments (via premium SMS billed to the operators phone bill) and mobile banking services.
“paybox’s vision for mobile commerce fits well with our business objectives,” said Matthew Talbot, vice president, mCommerce, Sybase 365. “paybox and Sybase 365 will offer solutions for mobile payments and person-to-person money transfer targeted at both emerging and developed markets.” Narayan Bhat is a contributing editor for TMCnet. To read more of Narayan's articles, please visit his columnist page. Edited by Greg Galitzine |
