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Muehltal, September, 7, 2009 Making a start in the mobile payment market – REA Mobile AG has received authorization for mobile payment. The mobile telephone is set to play an increasingly important role in the transactions market of the future. Pilot projects launched in the areas of payment, couponing and customer-retention have provided proof for the process optimization and customer acceptance achieved in a variety of applications. After years of development work, August saw the approval for nationwide implementation of our mobile payment procedure, granted by the regulatory authority, the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). The system will be ready for use in November, providing an additional service on all REA terminals. Initially, we will only apply the postpaid procedure, although REA will provide its connected partner firms (retailers) a payment guarantee via our clearing partner for turnover made on a mobile basis. An important role will be played by the much-quoted NFC technology (Near Field Communication), which facilitates quick and easy non-contact card and mobile telephone transactions. In developing the new T3 terminal, the sister firm REA Card is prepared for the launch, as this generation of terminal can be optionally fitted with this innovative technology after 2010. As the NFC technology will require between 1-2 years to achieve full market distribution, mobile REA payment is already possible via the familiar terminal keyboard. A mobile, dynamic transaction number is sent to the customer’s mobile telephone which can be entered in the terminal to effect payment in a manner similar to his previously fixed PIN. After online registration, the end customer then receives secure access to this new payment service. The system is operated on the basis of a small Java program sent to the customer’s telephone after successful registration. This procedure satisfies all relevant security requirements and benefits from our long experience in the transaction market. Combination of this new form of mobile payment with customer loyalty programmes is a matter of especial interest, allowing both procedures to be processed in a SINGLE transaction. The advantages are clear: customers will no longer need to carry a variety of different cards, and the checkout procedure is speeded up.
You can find further information under “Products and Solutions – Paying by Mobile Phone ” |
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