Product: OneTouch Mobile Payment
Company: Admeris Payment Systems Inc.
Mobile application downloads are projected to reach 50 billion in 2012, according to Chetan Sharma Consulting. Harnessing mobile payments into a platform that not only delivers high-level security but also offers ease of operation is no small feat. A Toronto-based company is convinced it has the answer and is willing to bet its patent-pending technology on it.
Canadian payment processor Admeris Payment Systems Inc. launched OneTouch Mobile Payment, a mobile payment technology that authenticates users and devices.
After initiating the first transaction, it can process all subsequent card payments with a single click, the company noted. The platform supports all primary smart phone models and older feature phones as well as mobile web or native applications. It also allows merchants to process both e-commerce and mobile commerce payments.
The tech savvy company was founded in 2007 by computer engineer Simon Law, Admeris President and Chief Technology Officer, with the support of an experienced team of managers and advisors in technology, mathematics, payments and business development.
When Admeris released OneTouch, its stated goal was to enhance the payment experience by improving the speed and security of authentication and by simplifying the payment process to eliminate consumer cart abandonment at checkout.
The turnkey platform reportedly resolves both issues using patented and patent-pending encryption and transaction verification processes.
To initialize OneTouch, an embedded mobile browser is launched during the user's first transaction. Once credit card information is entered, the data is linked with the mobile device to permit future payments that require customers to enter only a CVV or PIN to initiate transactions. No account setup, login and management are required by the consumer or the merchant, said Alexander Bosika, a consultant in Admeris' Corporate Communications department.
Mobile signature capture is also available with the technology and OneTouch reports sales details to merchants for accounting and inventory tracking.
According to Admeris, the system applies advanced fraud scoring and authentication based on dual-layer technology that encrypts nonpersonal smart phone identification with customer credit card information.
OneTouch's payment sessions are Payment Card Industry Data Security Standard compliant, and end-to-end encryption occurs within the application programming interface, the company said. Additionally, Admeris offers a multilayer ISO and agent split settlement tool with the program.
Admeris Payment Systems Inc.
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