Six months after launching a mobile banking service based on Tyfone’s financial services infrastructure, OnPoint Community Credit Union reports that usage among its members of the new mobile payments capabilities have exceeded expectations and continue to grow at a rapid pace. Each month more OnPoint credit union members are discovering the convenience of performing secure banking transactions via their mobile phones, while the number of monthly mobile banking transactions continues to soar at an average of 33 percent per month.

OnPoint Community Credit Union is Oregon’s largest credit union with more than $2.8 billion in assets. Founded in Portland, Oregon in 1932 by 16 school teachers, OnPoint has grown and evolved into a full-service institution serving close to 200,000 members. In support of its mission to provide unsurpassed member access to services, OnPoint has consistently expanded its reach through new branch openings, online banking and bill payment and growth in its ATM network. OnPoint made a commitment to further increase accessibility through an aggressive mobile banking strategy. As the cornerstone of this strategy, OnPoint announced in September 2009 it had selected Tyfone’s u4ia® platform as the infrastructure behind its mobile banking service.

OnPoint routes all SMS, APP, and WAP mobile transaction requests through Tyfone’s mode-neutral mobility platform, conveniently and securely delivering many of the services OnPoint’s members seek at branches to mobile phones that can be used anywhere in the world at any time. Tyfone’s mobility platform is integrated to XP Core Banking platform to enable this service for OnPoint.

OnPoint analyzed usage during the initial 22 weeks of its mobile banking service, covering tens of thousands of transactions. The credit union found that members were eager to try all three facets of the service including WAP/mobile Web, text message (SMS) and mobile application, with mobile Web representing approximately 50 percent of all mobile transactions, while SMS and the mobile banking application each contributed 25 percent. Checking account balances was the most popular feature, representing 69 percent of all transactions. Viewing statements came in second at 28 percent, though as members became more comfortable with mobile banking they appeared more apt to making payment transactions.

“Nothing can compete with the convenience of banking through your mobile phone,” said Jim Armstrong, OnPoint’s senior vice president of technology. “OnPoint is very careful about the technology we offer our members, making certain that we never sacrifice security for enhanced functionality or convenience. Not only does Tyfone’s financial services infrastructure meet all of our technology requirements easily, it also allows us to extend our mobile reach to NFC using their FI centric SideTap Memory Card. For the moment with the Tyfone mobile banking platform in place, we are turning mobile phones into OnPoint branches for a great number of transactions. ”

OnPoint launched the first phase of its mobile banking service at the end of 2009 enabling members to use their mobile phones to check account balances, view account history, transfer funds between accounts, and locate branches and ATMs. During this first phase, OnPoint elected not to market the service and see how members using online banking reacted to a mobile banking tab on the www.onpointcu.com website. After the first week OnPoint was already measuring the number of weekly transactions in the thousands.

Tyfone’s mobile banking platform was designed to increase bank profitability in part to bring banking customers and their financial institutions closer together by making banking possible from any place, any time. This added convenience grows the number of transactions and other activities made by each customer, and makes it easier for financial institutions to keep customers and stem attrition.

“One key finding in our data analysis is that members who adopt mobile banking appear more tied to the credit union,” adds Armstrong. “We see that members who use mobile banking are more entrenched customers and have an increased number of transactions.”

OnPoint intends to evolve its mobile banking service to give its members even more control of their finances in an anywhere, anytime environment. Stay tuned for more mobile service innovations from OnPoint, a key reason the credit union selected Tyfone to provide its mobile banking and payment platform.

OnPoint members can sign up for the credit union’s free mobile banking service by visiting: https://www.onpointcu.com/personal/convenience_services/mobile_banking.html.

Banks and credit unions interested in the Tyfone mobile banking platform can get more information by visiting: http://www.tyfone.com/product-mobile-banking.html.

About Tyfone
Tyfone connects money and mobility via a highly secure, scalable and flexible Mobile Financial Services (MFS) infrastructure that is tailored to meet the evolving needs of mobile network operators, transportation agencies, retailers and financial institutions. With its complete MFS platform and global alliance partners, Tyfone is uniquely qualified to deliver issuer-centric turnkey solutions with fully-integrated contactless payments capabilities. To discover why Tyfone is becoming the partner of choice for MFS technologies to many of the world’s leading organizations, please visit www.tyfone.com.

About OnPoint Community Credit Union
OnPoint Community Credit Union is the largest credit union in Oregon, serving more than 199,000 members and with assets of $2.8 billion. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 10 Oregon counties (Benton, Clackamas, Columbia, Lane, Linn, Marion, Multnomah, Polk, Washington and Yamhill) and two Washington counties (Skamania and Clark). For more information visit www.onpointcu.com or call 800-527-3932.

Spendvision, a global provider of total transaction management solutions, today announced the opening of two new offices in Japan and Singapore. The offices will enable Spendvision to target new customers in the Asia-Pacific region with its pioneering transaction management platform.

Spendvision provides a single platform capable of tracking and managing corporate transactions across banking, telecoms and travel in all locations, languages and currencies – giving CFO’s greater insight into all types of transactions by making information easy to access, search and understand. The new locations will complement Spendvision’s existing offices in the UK, US, Australia and New Zealand.

Signalling Spendvision’s plans to capitalize on its growing revenues in Japan, the company signed a joint venture agreement with local entrepreneur Mr. Tatsuya Murakami – who has a long history of successful ventures and an in-depth knowledge of the Spendvision platform – to create Spendvision Japan, and open a new office centrally located in Shibuya, Tokyo.

The office in Singapore – located in the Raffles Place financial district – will support both the company’s key alliance with Visa Inc. and allow Spendvision to expand banking and telecoms partnerships in the region, helping these organizations provide cost saving and process efficiency solutions to their corporate and public sector customers.

“Our new offices will help further our dialogue with customers and partners in the Asia-Pacific region and enable us to not only better serve our customers here but also develop products to meet the specific needs and expectations of this cutting edge market,” said Robert Kirby, CEO of Spendvision. “We’re building up a network of IT consulting firms and partners in both Japan and Singapore to drive growth and engage with prospects across a broad range of industries, including our core focus on the banking, telecoms and travel sectors.”

Spendvision will develop a new eWallet solution – initially for the Asia-Pacific market – that will allow employees to upload details of purchases they make from any location using their corporate eWallet. The solution will make it easy to integrate electronic payments made using any number of devices in the office, at home or on the move into the transaction process with simple auto coding and reporting functionalities.

“Payment methods in Asia-Pacific can be significantly different to those used in other markets such as the US and Europe,” continued Kirby. “Japan in particular is a great barometer for emerging mobile trends and technologies that are fundamentally changing the way employees make corporate purchases. Sophisticated new technologies like eWallets are increasingly popular throughout Asia and it’s vital that transaction management is kept as simple as possible to ensure that companies can easily access and search the transaction information they need to make informed business decisions and optimize corporate spend.”

Spendvision will also be looking to form partnerships with businesses in Japan and Singapore that want to introduce new products and services to their customers without investing the time, resources and expenses needed to develop their own solutions in-house. By harnessing the benefits of Spendvision’s extensive experience and comprehensive technology platform , partners can rapidly introduce customized transaction management solutions that address the specific needs of their customers without detracting from their core business activities – allowing them capitalize on emerging trends and enter new markets quickly.

About Spendvision
Spendvision is a leading innovator of transaction management solutions. Through just one technology platform Spendvision delivers more effective purchasing that increases business profitability, improves decision making and delivers greater control and compliance. All this across the broadest range of transactions from simple cash, card, online travel bookings and telecoms right through to interactive coding, requisitions and dynamically funded accounts.

Spendvision is headquartered in the UK with offices in the US, Australia, New Zealand, Japan and Singapore and works with leading customers and partners around the world. The Spendvision solution is available direct to businesses and through partners across the banking, telecommunications and travel sectors that provide the solution to their customers in their own brand.

Spendvision, a global provider of total transaction management solutions, today announced major enhancements to its transaction management platform, designed to give multinational or group organisations comprehensive insight into corporate spend across multiple business units, currencies, languages and territories.

Aimed at organisations with several groups or divisions – such as Government agencies – Multi-Program Reporting allows CFOs to access spend levels across their entire organisation, irrespective of where transactions occurred. They can now access both a high level perspective of overall spend as well as more detailed breakdowns across any area of the business, using reporting tools to view spend by transaction type, merchant category, account or even supplier.

In addition, CFOs can now gain a single currency view of all spend – vital for making cross-territory comparisons – while the platform also allows for customisation based on specific local spend management requirements.

Many organisations have traditionally taken a siloed approach to transaction management based around different regions or corporate groups. Now however, CFOs are increasingly being asked to look beyond local needs and provide greater global insight into all types of corporate transactions, in order to find new ways of cutting costs and optimising corporate spend, as well as ensuring compliance in an increasingly stringent regulatory environment.

With its latest enhancements, Spendvision can easily and effectively service these requirements, providing a single platform capable of tracking and managing all corporate transactions – from rich procurement processes, integrated travel and expense management to telecoms services, electronic bills and payment.

“Whether it’s a telephone call or an airfare, all transactions are essentially purchases and need managing in a similar way,” said Robert Kirby, CEO of Spendvision. “We’re taking the transaction management market a step further by enabling organisations with multiple business groups to further consolidate and report on all spend from a single tool in a single currency, offering CXOs consistency, insight and above all greater control over purchasing activity.”

The Spendvision platform makes it easy for new groups to be integrated, meaning that multinationals can expand their use of the platform at their own pace. The solution also allows each business group to maintain their own discreet Spendvision ‘instance’, meaning that in the event of groups being sold off or partnerships dissolved, each party can continue using Spendvision without creating security or compliance issues.

Additional Multi-Program Reporting features include:

• Local platform customisation – separate business units can still structure the system based on individual needs and local currency and language options
• Reporting by supplier, transaction and amount, giving organisations more flexibility in the way they manage, plan and evaluate corporate spend
• General auditing – the ability to track when company-level options and settings are changed and by whom, as well as how organisations use key modules and functions
• Access and approvals – companies are able to grant advanced management access levels for different employee types, giving users visibility of only the reports and data they need
• Filtering and searching – additional search fields have been added, including the ability to filter reports by reporting currency

“With more and more employees now able to make corporate purchases, in the office, at home and on the move, it’s vital that from the top level down transaction management is kept as simple as possible,” continued Kirby. “We’re continually refining the Spendvision platform to ensure that – at all levels of management – the transaction information needed to make effective business decisions remains easily accessible, searchable and understandable, and our latest product enhancements offers our most comprehensive level of insight yet.”

Multi-Program Reporting is available as an ‘opt-in’ upgrade to the Spendvision platform, which is delivered over the internet, meaning that companies don’t have to invest in, install or maintain any hardware or software.

About Spendvision
Spendvision is a leading innovator of transaction management solutions. Through just one technology platform Spendvision delivers more effective purchasing that increases business profitability, improves decision making and delivers greater control and compliance. All this across the broadest range of transactions from simple cash, card, online travel bookings and telecoms right through to interactive coding, requisitions and dynamically funded accounts.

Spendvision is headquartered in the UK with offices in the US, Australia, New Zealand, Japan and Singapore and works with leading customers and partners around the world. The Spendvision solution is available direct to businesses and through partners across the banking, telecommunications and travel sectors that provide the solution to their customers in their own brand.

First Data, a global leader in electronic commerce and payment processing today announced an agreement with
Tyfone, a provider of mobile contactless payment and secure mobility solutions. The collaboration will provide SideTap™ micro secure digital (MicroSD) memory cards equipped with Tyfone’s patented technologies that will transform most mobile phones with a memory slot into a mobile contactless payment device.

Unlike solutions that are tied to specific merchants or financial institutions, the MicroSD card powered by Tyfone technology lets the card work like an actual mobile “wallet.” The card can contain financial information and secure identification from multiple sources, such as specific retailers or financial institutions in both open loop and closed loop scenarios.

SideTap card’s onboard controller that manages over-the-air (OTA) access in conjunction with the u4ia® (pronounced euphoria) mobility platform is fully expandable, allowing consumers to add new payment and identity options, creating a true mobile wallet that is as flexible as the card provider would like it to be. Through this agreement, First Data will provide merchants and financial institutions with Tyfone’s patented SideTap secure memory card and u4ia mobility platform for OTA life cycle management.

The SideTap card can retain memory card functions, so consumers can continue to utilize the card as they normally would, to store photos, videos, music, documents, or other files. An embedded SmartMX security chip from NXP Semiconductors safeguards all transactions operated on the MicroSD card.

“The move to contactless payments is gaining traction and First Data continues to play a pivotal role in the development of this evolving technology. Consumers have a strong preference for such technology and merchants are using contactless payments to reduce waiting times, increase customer loyalty, and boost sales,” said Dom Morea, First Data division manager of Mobile Commerce Solutions. “First Data chose Tyfone’s SideTap Memory Card because it best serves the needs of consumers who want to use contactless payment options with over the air access, but still want to retain the memory card functionality of their MicroSD card. We are excited to partner with Tyfone and bring this technology to consumers in the second half of 2010.”

Over the next two to three years, analysts forecast contactless payment transactions via MicroSD technology will be used by more than 20 million people in North America alone, at thousands of contactless payment terminals already in place. According to a Sept. 2009 forecast by Juniper Research, near-field communications (NFC) contactless payment global gross transaction value is expected to exceed $30 billion by 2012.

“With over 60 percent of the mobile phones being sold today with memory slots, memory cards are widely used in the mobile ecosystem, making it an ideal form factor for issuers to add contactless payment. However, consumers are unlikely to swap between memory card for payment and storage uses in their phones. So our SideTap cards integrate storage and contactless payments in the same memory card to enhance consumer’s experience,” said Dr. Siva Narendra, chief technology officer at Tyfone. “Mobile phone users are familiar with memory cards, many of which are bought directly from their mobile network operators. Tyfone in collaboration with First Data and NXP provides a win-win-win for the consumer, issuer, and the mobile network operator.”

“The promise of MicroSD card-powered technology to drive contactless payments is profound, with the ability to very quickly enable mobile transactions for businesses and their customers,” said Henri Ardevol, general manager, Secure Transactions at NXP. “Our partnership with First Data and Tyfone exhibits the kind of innovative technology that will bring significant benefits for consumers as well as the key stakeholders such as banks, transportation companies, mobile network operators and merchants.”

About Tyfone
Tyfone is a neutral infrastructure enabler for cloud computing based mobile services. Tyfone enables the next wave of secure-element-neutral mobile apps that are secure enough to store your driver’s license, health records, passport, debit, pre-paid and credit cards.

Tyfone’s u4ia® platform and its companion SideTap™ card is the world’s first patented memory card-based mobile payments solution with integrated secure element OTA controller and miniature contactless coil for mobile NFC payments. The technology operates in any standard memory card slot and is rapidly gaining market acceptance as a single-strategy approach to mobile contactless payments for any mobile phone. Tyfone and its partners enable a suite of services including Mobile Banking, Mobile Identity Management, Mobile Remote Payments, Mobile Retail Services and Mobile Contactless Payments. To discover why Tyfone is becoming the partner of choice for secure mobile apps to many of the world’s leading organizations, visit www.tyfone.com.

About NXP
NXP Semiconductors provides High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power, Digital Processing and manufacturing expertise. These innovations are used in a wide range of automotive, industrial, consumer, lighting, medical, computing and identification applications. Headquartered in Europe, the company has about 28,000 employees working in more than 25 countries and posted sales of USD 3.8 billion in 2009. News from NXP is located at www.nxp.com.

About First Data
First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com.

Tyfone (www.tyfone.com), a provider of secure mobility solutions, today announced that its SideTap™ micro secure digital (MicroSD) memory card versions are completed and will be available via partners to consumers in the second half of 2010. MicroSD memory cards enabled by Tyfone’s patented SideTap contactless payment technology with integrated 13.56MHz coil can be used by hundreds of millions of mobile phones at thousands of existing contactless payment terminals worldwide. These cards will work in phones with MicroSD slot on any side of the phone – top, left, right, bottom or back.

Tyfone’s enabling patent portfolio includes US patent 7,581,678 filed February 22, 2005 for “Electronic Transaction Cards”, issued September 1, 2009, and other patents pending.

The SideTap memory card technology is the world’s first to fully integrate near-field communications (NFC) contactless card payment capabilities with a popular and commonly used mobile phone accessory, a MicroSD memory card. SideTap memory cards enable MIFARE as well as any Global Platform compliant payment applet. The SideTap MicroSD card contains an onboard controller that manages over-the-air (OTA) capabilities allowing consumers to add multiple payment and identification options, creating a true mobile wallet. Because the SideTap MicroSD card also retains all its memory card functions, consumers can also use them to store documents, photos, videos, music or other files.

“Unlike solutions tied to specific retailers or financial institutions, the SideTap memory card works like an actual wallet that contains financial information from multiple sources, either specific retailers or financial institutions in both open loop and closed loop scenarios, said Tom Spitzer, Tyfone’s chief executive officer. “We are very excited to be launching the SideTap MicroSD card. It’s a significant milestone for the company and for the industry.” The SideTap MicroSD card is a fully integrated solution with a built-in contactless coil, without loss of traditional memory card functions.

In addition to the SideTap memory card, a SideTap lite MicroSD card with OTA wallet functions but no storage memory is available for partners. A SideTap ultralite MicroSD card is also available without storage memory or OTA wallet capabilities, for a single-payment provider scenario, much like a contactless plastic card or sticker from a single issuer. SideTap and SideTap lite cards are supported by Tyfone’s u4ia® (pronounced euphoria) mobility platform. The platform transforms the MicroSD memory card into a mobile wallet capable of performing OTA life cycle management and contactless transactions at NFC equipped point-of-sale readers. Tyfone’s u4ia mobility platform, that will be used by Trusted Service Manager (TSM) partners, is necessary for OTA services only and not for payment transaction processing.

Using SideTap memory cards, consumers purchase goods simply by tapping their mobile device at a point of sale reader. The read distance ranges from 1 to 3 cm depending on the reader and transaction speeds are identical to contactless plastic cards.

“If you are like most people, inside your wallet you have a few credit/debit/ID cards, perhaps gift/prepaid cards, money and miscellaneous items like coupons,” said Dr. Siva Narendra, chief technology officer at Tyfone. “With Tyfone’s u4ia platform and our SideTap MicroSD card a consumer can have multiple payment identities with OTA access and won’t be limited to where they can use their mobile phone to make payments and other secure transactions. Not to mention the ability to store contents including coupons, catalogs, and music, some of which can be preloaded by our partners. More important, the Tyfone SideTap MicroSD cards are equipped to work in virtually any mobile phone with a memory card slot. We can now kick start NFC.”

One of the most often cited obstacles for NFC payment models is the lack of availability of NFC-enabled handsets. By contrast, Tyfone’s patented technology enables a more rapid deployment of NFC capabilities by simply inserting the SideTap MicroSD card into commonly available memory card slots, requiring no other changes to consumers’ phones. According to a September 2009 forecast by Strategy Analytics approximately 900+ million phones will be enabled with memory card slots by 2013. Many handset manufacturers already report that memory cards are the most purchased accessory for mobile phones today.

“To address a marketplace that today has hundreds of millions of mobile phones that can use Tyfone’s SideTap MicroSD cards, it was important to ensure the ability to scale,” said Prabhakar Tadepalli, Tyfone’s managing director. “SideTap memory cards can work across all mobile operating systems and all wireless operators. We have also built it to scale quickly and have a team ready to assist our partners in that effort.”

Tyfone’s SideTap SD memory cards have undergone extensive and successful trials with multiple partners over the last 18 months. In the coming months, consumers will be able to purchase SideTap MicroSD memory cards and use them at major retailers. Tyfone will soon announce partnerships that will make the first wave of this important payment technology available for consumers, financial institutions and retailers.

About Tyfone:
Tyfone is a neutral infrastructure enabler for cloud computing based mobile services. Tyfone enables the next wave of secure-element-neutral mobile apps that are secure enough to store your Driver’s License, Health Records, Passport, Debit, Pre-paid and Credit Cards.

Tyfone’s u4ia® platform and its companion SideTap™ card is the world’s first patented memory card-based mobile payments solution with integrated secure element, OTA controller and miniature contactless coil for mobile NFC payments. The technology operates in any standard memory card slot and is rapidly gaining market acceptance as a single-strategy approach to mobile contactless payments for any mobile phone. Tyfone and its partners enable a suite of services including Mobile Banking, Mobile Identity Management, Mobile Remote Payments, Mobile Retail Services and Mobile Contactless Payments. To discover why Tyfone is becoming the partner of choice for secure mobile apps to many of the world’s leading organizations, visit www.tyfone.com.

Some names and brands mentioned may be claimed as the property of others. u4ia, Tyfone, and SideTap are trademarks of Tyfone, Inc.

Kony Solutions, Inc., a mobile applications platform provider with Write Once, Run Everywhere technology, today announced the release of Kony Mobile Finance for Banking, a pre-packaged mobile application developed specifically for banks, savings and loans, and credit unions. Kony Mobile Finance applications enable companies to quickly launch and maintain a unique branded mobile offering that delivers a full-featured and secure mobile experience via native on-device applications, device-optimized mobile websites, and extensible clients such as SMS/MMS services and gadgets.

Using Kony Mobile Finance for Banking, companies can interact with their mobile customers, enabling them to view their bank and credit card balances and history, make transfers between their accounts, and pay their bills securely from their mobile phones. Customers can also check loyalty program information and review targeted, timely offers from their financial institutions as part of the application’s evolving mobile commerce capabilities.

Hosted and powered by the Kony Mobile Application Platform^TM, the Kony Mobile Finance for Banking application integrates with the institution’s current and future back-end systems (e.g., OFX, CRM), maximizing capabilities, efficiencies, and performance, all resulting in a superior customer experience and higher satisfaction. The Kony platform provides the critical mobile infrastructure to support large volumes of transactions, in a secure environment, despite the highly complex challenge of thousands of variations of mobile devices and functionality. Ultimately with Kony Mobile Finance for Banking, mobile customers can use any type of mobile phone to seamlessly interact with a financial institution’s existing commerce and information systems. With Kony, institutions deliver a rich, engaging mobile experience aligned with a firm’s overall marketing strategy, driving additional revenue and growing customer loyalty.

According to recent research from TowerGroup^[1], mobile banking usage is estimated to grow from 10 million active users in 2009 to over 53 million active users in 2013, representing a compound annual growth rate of 51.8 percent. Driven by consumers’ desire for real-time access to- and control of- their financial information, banks are rapidly looking for solutions to create a mobile banking channel quickly and cost-effectively.

“Banking customers have become increasingly mobile and there is a growing urgency for financial institutions to provide the desired customer service at all times. Mobile technologies present a powerful opportunity for institutions to differentiate themselves with immediate value, resulting in significant revenue opportunities,” said Raj Koneru, founder and CEO of Kony Solutions. “In partnership with the financial community, we have delivered Kony Mobile Finance for Banking to provide all customers a high-value banking experience, regardless of the mobile device they choose to use.”

Kony Mobile Finance for Banking Features

• Account information & summary
• Transaction details & activity
• Funds transfer
• Check deposits
• Bill payment
• Service requests
• Offers & special promotions
• Financial information – foreign currency exchange rates
• Mobile security – OFX compliance, SSL, multi-factor authentication

About Kony Solutions
Kony Solutions provides a mobile applications platform with Write Once, Run Everywhere technology that delivers mobile presence and commerce for consumer-facing enterprises. Delivering on the vision of mobile faster, better and with lower total cost of ownership, the Kony Mobile Application Platform uses a single-code base to develop rich native mobile applications, device-optimized mobile websites, and extensible clients (SMS/MMS/Gadgets). Headquartered in San Mateo, Calif., the company also provides pre-built vertical applications which are customizable and ready to be deployed, hosted and managed via Kony 360 services. Visit www.konysolutions.com.

Tyfone, a global provider of mobile financial services infrastructure and fully-integrated mobile NFC payments/secure transaction capabilities, today announced the company was awarded a second patent for its innovations in smart card-based electronic wallet technology. This newest patent, US 7,581,678 is entitled “Electronic Transaction Card.”

Using time varying magnetic fields, Tyfone’s patented technology enables the use of a memory card as an electronic wallet and/or the ability to use that memory card for the secure transmission of financial information. This groundbreaking technology is used in the company’s u4ia^® (euphoria) Mobile Financial Services platform, which completed successful beta testing in June of this year.

In the growing contactless payment marketplace, Tyfone’s patented technologies and u4ia secure memory card platform enables a Trusted Service Manager (TSM) to bring scale to the ecosystem by enabling existing market deployed handsets to become NFC ready. This leads to significant benefits to consumers and the key stakeholders such as banks, transportation companies, mobile operators and merchants, without change to the current ecosystem and without incurring significant cost to enable it.

Unlike other software only technologies that refer to their application as an electronic wallet, Tyfone’s platform includes a neutral secure element-thereby making it a true electronic container or “wallet.” This solution allows a TSM to securely manage different consumer credit, debit, transportation and pre-paid accounts for use in a wide range of payment and other secure transactions.

A key application for Tyfone’s newly patented technology is using SideTapTM to conduct a contactless payment transaction. Using SideTap consumers purchase goods at point of sale simply by tapping their mobile device at point of sale.

“To Tyfone, this patent is the culmination of tireless work developing a neutral solution not only as a viable implementation of NFC that can be broadly used today, but also as a truly game changing technology,” said Dr. Siva Narendra, chief technology officer at Tyfone. “As was demonstrated when initial testing was completed with the key stakeholders in the NFC value chain, Tyfone’s newly patented technology brings us one step closer to a ubiquitous contactless payment reality. Tyfone’s secure memory card technology is out of the R&D lab, has been tried and tested and is ready for the next stage in evolving the stakeholders’ existing business models into new revenue opportunities.”

“Enabling near field communications without requiring design changes to the handset is the fastest way to proliferate contactless applications”, said Patrick Gauthier, who launched Visa Paywave and is now CEO of SMC Advisors, a management consulting firm focused on emerging payments, mobile and e-commerce businesses. “Tyfone’s technology is critical to jump start NFC by providing a packaging that is familiar to the consumers, delivering a neutral secure element that is appropriate for banks and service providers, and enabling a new class of use cases that can drive revenue for operators.”

About Tyfone:
Tyfone connects money and mobility via a highly secure, scalable and flexible Mobile Financial Services (MFS) infrastructure that is tailored to meet the evolving needs of mobile network operators, transportation agencies, retailers and financial institutions. With its complete MFS platform and global alliance partners, Tyfone is uniquely qualified to deliver issuer-centric turnkey solutions with fully-integrated contactless payments capabilities. To discover why Tyfone is becoming the partner of choice for MFS technologies to many of the world’s leading organizations, please visit www.tyfone.com.

Tyfone, a global provider of mobile financial services infrastructure and fully-integrated mobile payments capabilities, today announced that OnPoint Community Credit Union, Oregon’s largest credit union with more than $2.8 billion in assets, has selected Tyfone’s u4ia^® platform as the infrastructure behind its mobile banking strategy. OnPoint will leverage Tyfone’s professional services to deploy robust mobile banking services initially, with NFC contactless mobile payment capabilities to follow.

Founded in Portland, Oregon in 1932 by 16 school teachers, OnPoint has grown and evolved into a full-service institution serving close to 200,000 members. In support of its mission to provide unsurpassed member access to services, OnPoint has consistently expanded its reach through new branch openings, online banking and bill payment and growth in its ATM network. Earlier this year, OnPoint made a commitment to further increase accessibility through an aggressive mobile banking strategy.

“We set out to find a proven technology partner offering a full suite of mobile banking capabilities, plus we wanted a flexible, modular architecture and experienced professional services to help us implement our strategy,” said Jim Armstrong, OnPoint’s senior vice president of technology. “Tyfone came through with a comprehensive platform that exceeded our requirements, but their integrated NFC contactless mobile payment capabilities were what really sold us. No other vendor on the market offers both capabilities, and Tyfone’s unique secure memory card technology gives us exceptional flexibility to deliver some very exciting new member services down the road.”

According to the research firm Juniper Research, by the year 2011 there will be over $587 billion in financial transactions handled by mobile financial services around the world.

While the current industry paradigm for implementing mobile payments relies on wireless operators and handset manufacturers to integrate Near-Field Communications (NFC) chips into new handset models, Tyfone’s unique technology overcomes this barrier by integrating the Secure Element (SE), an NFC contactless chip and antenna on standard Secure Digital (SD) memory cards. Using a secure memory card as the SE fosters a better operator – bank cooperation, allowing memory card-enabled phones to become instantly capable of highly secure transactions and contactless payments.

Manufacturers are gearing up for widespread adoption of mobile payments. As of 2009, over 60 percent of phones in the US have memory card slots and close to one billion phones worldwide, thereby Tyfone’s solution makes it simple for customers to adopt and provide organizations the opportunity to brand their own cards.

“OnPoint recognizes that offering their members mobile financial solutions is a critical strategy to build on their preeminent position in the marketplace,” said Thomas Spitzer, Tyfone’s chief executive officer. “Being able to offer everything from secure mobile banking to mobile payments will enable us to partner with them for the long term.”

About Tyfone:
Tyfone connects money and mobility via a highly secure, scalable and flexible Mobile Financial Services (MFS) infrastructure that is tailored to meet the evolving needs of mobile network operators, transportation agencies, retailers and financial institutions. With its complete MFS platform and global alliance partners, Tyfone is uniquely qualified to deliver issuer-centric turnkey solutions with fully-integrated contactless payments capabilities. To discover why Tyfone is becoming the partner of choice for MFS technologies to many of the world’s leading organizations, please visit www.tyfone.com.

About OnPoint Community Credit Union:
OnPoint Community Credit Union is the largest credit union in Oregon, serving more than 199,000 members and with assets of $2.8 billion. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 10 Oregon counties (Benton, Clackamas, Columbia, Lane, Linn, Marion, Multnomah, Polk, Washington and Yamhill) and two Washington counties (Skamania and Clark). For more information visit www.onpointcu.com or call 800-527-3932.