Verizon has announced a partnership with mobile payment company Payfone to allow one click purchases via cell phone for online goods and services. This is in addition to the Isis payment consortium and the BilltoMobile relationship.
From the press release:
“Our relationship with Payfone complements the part of the mobile payments equation we’re already working on with our Isis joint venture,” said Greg Haller, marketing vice president, Verizon Wireless. “We approach the mobile payments arena from a customer’s perspective. As we move forward, the most important goals will be security, privacy and simplicity. Through our relationship with Payfone, we will be able to quickly offer value to our customers by offering them greater choice and a simple, safe and secure purchasing experience when shopping online from their smartphones, tablets and PCs.”
“We are pleased to be working with Verizon Wireless to deliver a new level of convenience, security and flexibility to their customers and to boost revenue and conversion for operators, merchants and publishers,” states Rodger Desai, chief executive officer, Payfone. “This underscores Verizon Wireless’ dedication to cutting-edge innovation as it stays ahead of the mobile payments curve.”
“What makes Payfone unique is its security system. Unlike traditional payments network, it leverages the security built into the mobile operator network while processing transactions. To do so, it ties a customer’s SIM card, device ID and location to their account, so that it knows when a different phone is used, or when a phone is used in an unusual location. Payfone also takes advantage of the global SS7 signaling network for connected payment authorization and processing. The end result is a location-based, customer-specific approach to fighting fraud, reducing risk, chargebacks and identity theft.”