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With
this unique approach to mobile payments, operators and merchants
are able to complete transactions more securely and accurately,
reducing fraud and risk and generating more revenue. For consumers
it means greater choice and a simple, safe and secure purchasing
experience via mobile, tablet, in-app and online across any device.
Payfone
is unique in leveraging the existing assets of mobile operators,
such as the global SS7 signaling network for directly connected
payment authorization and processing. Payfone's unique ability to
leverage the mobile operator network to directly authorize and process
payments drives higher sales conversion and revenue yield for merchants
and mobile operators, while managing fraud and revenue leakage.
This approach distinguishes Payfone from other competitors.
Through
Payfone's simple and secure one-click checkout, consumers can purchase
digital and physical goods using only their mobile phone number
and charge it back to their monthly mobile bill, bank account or
credit card. Essentially, with just one click of a button your son
can make a purchase, such as an app from an app store via his smartphone,
or your wife can purchase shoes online, using their mobile phone
number to check out.
Unlike
other market players, Payfone leverages the security already built
into the mobile operator network for mobile payment processing.
This deep network access allows for the authorization of credit
card, debit and mobile operator billed payments, dramatically reducing
fraud, charge-backs and identity theft.
Payfone
was created to challenge conventional thinking and radically change
the mobile payment paradigm. Over 5 billion people worldwide currently
have mobile phones, while less than 2 billion have credit cards.
Payfone's goal is to make the mobile phone number the accepted way
to pay, opening up payment options to the non-credit card world
and bridging the gap in emerging markets.
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