Mobile Wallet is a software product that enables the secure and reliable purchasing of goods and services from any wireless device...
Mobile Wallet is a software product that enables the secure and reliable purchasing of goods and services from any wireless device. It is a secure environment for wireless service providers, credit card companies, financial institutions and e-businesses to offer one-touch mobile purchasing for consumers and business partners. Supporting credit, debit, micropayment, pre- and post-paid accounts, it allows consumers to store their preferred payment and billing information in a centralized server-based wallet. In addition, personal preference information such as clothing sizes and frequent flier numbers can be entered, giving consumers a true virtual wallet on their mobile devices.
When shopping using a mobile device, the customer is authenticated by username and password. This new offering integrates with retail merchant sites to automatically populate the required information fields with accurate payment and preference data from the consumer's wallet profile. Once the transaction is complete, the consumer receives a confirmation number or receipt verifying the purchase.
Because the software gives customers the ability to purchase items "anywhere, anytime," its Providers can profit from increased transactional revenues. The end-user benefits from ease of use, as well as from the high security level. Since personal information is stored centrally the information is protected from, for example, loss or theft.
The software offers unique transparent connectivity between front and back end systems. This is provided by the company's e-services platform, Twister, a scalable foundation that integrates applications with existing back-office systems and scales to support millions of concurrent users across multiple channels. The software works with all cellular phone protocols such as GSM, CDMA, TDMA, as well as with wireless PDA devices such as Palm and Handspring.
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