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VeriFone partners with China Mobile and Bank of China for NFC payment
[December 31, 2012]

VeriFone partners with China Mobile and Bank of China for NFC payment

Dec 31, 2012 (Datamonitor via COMTEX) -- VeriFone Systems, Inc., a provider of electronic payment solutions, has announced an alliance with China Mobile and Bank of China to deploy VeriFone's managed services solutions for near field communication, or NFC, payment and mobile marketing in Shen Yang, China.

Another alliance member, Shen Yang Badatong E-Commerce Co., Ltd., is equipping merchant locations with VeriFone NFC acceptance systems to enable payment and redemption via NFC at the point of sale. This represents the first implementation of VeriFone's PAYMEDIA Mobile Marketing Platform (MMP), a solution that enables merchants, brands and third parties to launch highly targeted campaigns to mobile wallet subscribers, VeriFone said.

"VeriFone solutions make it possible for consumers and merchants to fully leverage the power and simplicity of NFC technology supported by Bank of China and China Mobile," said Zvi Mitlanski, senior vice president, VeriFone Asia Pacific. "This implementation demonstrates the potential of VeriFone's Payments-as-a-Service vision and strategy, and provides Shen Yang with a complete infrastructure for provisioning, integrating and managing wallets and other mobile apps." A key element in the NFC implementation is VeriFone's PAYMEDIA Universal Acceptance Platform (UAP), which provides the Shen Yang alliance with a solution for control over NFC mobile commerce acceptance. As an open standard, the UAP allows for mobile commerce over any enabled acceptance network.

PAYMEDIA UAP enables Mobile Network Operators (MNOs) and wallet providers to download wallet acceptance applications directly to merchants' point of sale systems and allows merchants to connect these apps to providers via VeriFone's cloud-based gateway. PAYMEDIA MMP complements mobile wallet acceptance by driving consumers to merchants with offers, promotions and digital coupons that can be used as they complete their transactions, the company added.

China Mobile and Bank of China expect to issue an initial 50,000 SIM cards during 2012. The SIM cards will be marketed to subscribers through bank branches and China Mobile customer support centers. VeriFone is planning to replicate this service in additional cities and provinces across China and globally, partnering with wallet providers, MNOs and integrators. Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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