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Four Times More Consumers Consider Mobile Payments Safer Than Credit Cards

PaymentOne — Tue, 13 Dec 2011 14:55:46 +0000

Javelin Strategy & Research Consumer survey, commissioned by PaymentOne, also reveals more than $100 billion in annual lost revenue for online merchants who don’t offer payment alternatives

SAN JOSE, Calif. – MobilityWire^® – December 13, 2011

It’s hard to put a price tag on security and privacy, but a recent study of consumers’ online and mobile purchasing attitudes conducted by Javelin Strategy & Research and PaymentOne (www.paymentone.com) found 4 out of 5 consumers would spend more online if offered an easier and more secure way to pay. The survey also found that by a margin of almost 4 to 1, consumers believe direct carrier billed mobile payments are more secure than using credit and debit cards for online digital purchases.

How much more would consumers spend if they didn’t have to share their sensitive personal data or type in a long credit card number to complete their purchase? The Javelin survey finds that online merchants could add aggregated yearly revenue of $109.8 billion, simply by offering an alternative “no credit card required” way to pay at checkout.

Conducted this fall, the 2011 Consumer Payment Poll revealed that consumers have dramatic and growing concerns about the safety and privacy of using credit or debit cards for online transactions. More than half of consumers surveyed admitted to abandoning online purchases at check-out because of these concerns, confirming a huge loss in potential revenue for online merchants.

Majority of consumers would buy more if online payments were safer

4 out of 5 consumers polled would spend more online if given an easier and more secure payment alternative to credit or debit cards. This indication of pent-up demand and lost opportunity for commerce was consistently high across a wide range of segments such as age, ethnicity, income, geography, early/late adopters of technology and gender, with certain demographics, including higher income, younger and minority segments displaying an even higher demand for easier and safer payment alternatives. Nearly 6 in 10 consumers are more likely to visit and buy from sites that offer “no-credit-card-required” payment options. Survey results further indicated that digital merchants could realize incremental average monthly revenue of $89 per consumer simply by increasing the available payment choices.

“According to the 2011 Online Payment Poll, consumers are concerned about the use of credit cards online and related issues of privacy, fraud, security and convenience,” said Phil Blank, Managing Director at Javelin Strategy & Research. “If digital merchants simply offered consumers an alternative way to pay, such as mobile carrier based payments, 79 percent of decisive consumers indicated they would spend more, driving significant new incremental revenue from subscriptions, transactions and purchases. With an estimated $110 billion in new revenue for digital merchants being left on the table each year in the U.S. alone, this ‘commerce gap’ represents a massive untapped opportunity.”

Consumers are afraid to use their credit cards online

Survey respondents voiced extreme concerns around using credit cards to shop online, especially for smaller digital purchases. Privacy and security topped shoppers’ concerns listed below:

I’m concerned a merchant or website will start sending me junk mail (55 percent)
I’m concerned my personal information will be sold to other merchants (54 percent)
I’m concerned my credit card information will be intercepted (51 percent)
I’m concerned unauthorized parties will access my personal information stored by merchant (51 percent)
I’m concerned my credit card information will be misused by merchants (41 percent)
I don’t like the idea of providing private or personal financial information (38 percent)
I worry that my personal financial information could be intercepted over the air when I enter it using my phone (32 percent)

Shoppers’ security and privacy concerns were universal across all age groups and income ranges, indicating that the vast majority of online consumers, regardless of their socio-demographic status, would be inclined to purchase more online if their security and privacy concerns were addressed with “no credit card required” safer and more secure billing options.

“Consumers’ concerns around the security and privacy of online payment transactions are staring digital merchants in the face and demanding attention,” said Brad Singer, executive vice president, PaymentOne. “In today’s economy where every cent counts and every customer is vital to the success of a business, merchants clearly need to do more to ensure customers aren’t scared away when it comes time to check out. The implementation of new consumer-friendly alternative payment options may well be the single most important step merchants and publishers can take to grow their customer bases and their revenues.”

Carrier-billed mobile transactions top alternative payment options

300 percent more survey respondents perceived carrier billed mobile transactions, where financial information is never shared or loaded onto the phone, to be safer than “mobile payments” requiring consumers to input credit or debit card info. Consumers identified the wireless bill as the preferred method (58 percent), followed by the landline/broadband bill (22 percent) as the safest and most secure alternatives for digital purchases. The survey found strong interest for safer payment methods across all socio economic strata, but the interest is greatest within households earning greater than $75,000 per year.

Mobile payments are the future

95 percent of survey respondents have mobile phones, yet just 36 percent have already used them to make a payment. The 2011 Online Payment Poll finds strong interest for using a mobile phone for payments beyond subscriptions, service bills and mobile apps. Among consumers who have used their mobile devices to make payments, nearly one in four have purchased digital entertainment; one in three purchased entertainment tickets; and approximately one in four purchased travel and apparel. Merchants deploying additional payment options, including mobile payment options that enjoy strong consumer interest, can reach and convert more potential consumers and capture millions of dollars in additional revenue.

About this survey

Commissioned by PaymentOne, the poll results were published by Javelin Strategy & Research in December 2011. Conducted in September 2011, the poll surveyed over 2,000 U.S. consumers regarding their online payment preferences for digital content and services. Games, mobile apps, music, streaming media and entertainment, software, security services (e.g., antivirus and anti-spam), subscriptions, Internet services (e.g., Wi-Fi), console games, and related premium services were among the top categories consumers were interested in purchasing.

For a complete copy of the 2011 Online Payment Poll, please visit http://www.paymentone.com/2011onlinepaymentpoll.

About PaymentOne

PaymentOne Corporation is the global leader in mobile payments and carrier billing, making it easy and convenient for consumers to charge digital purchases from any connected device to their mobile, broadband or home phone bills. Digital merchants, publishers and content providers have leveraged PaymentOne’s Carrier Network of 1200 telecom operators in 70 countries – reaching over 3.5 billion consumers – to generate more than $5 billion in new incremental revenue. PaymentOne’s ability to deliver the highest monetization for its merchants and its first rate customer service has earned the company the lowest client churn rate in the business. Profitable and privately held, PaymentOne is based in the Silicon Valley. For more information visit www.PaymentOne.com.

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Email: paymentone@mobilitypr.com

PaymentOne Press Kit: http://paymentone.mobilitypr.com

Christine Loredo

PaymentOne

Work: +1-408-362-4127

Email: cloredo@paymentone.com

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OnPoint Community Credit Union Partners with Tyfone to Launch iCashé Mobile Wallet Program

Tyfone — Tue, 22 Nov 2011 23:31:09 +0000

New service allows members to purchase and send gift cards with a smart phone

PORTLAND, Ore. – MobilityWire^® – November 22, 2011

Through a partnership with Portland-based mobile financial services firm Tyfone, OnPoint Community Credit Union today announced the launch of the iCashé Mobile Wallet program. iCashé Mobile Wallet provides OnPoint members with a simple and fun way to purchase gift cards on their mobile phones and send to anyone instantly by text message or email. OnPoint is the first credit union in the nation to offer the iCashé Mobile Wallet program to members.

Gift card recipients can use their cards in-store or online via their smart phone or with a printed copy of the confirmation email. More than 50 national retailers and restaurants are now offering the mobile gift cards for purchase, with local retail options expected to be added in the future. Current participating retailers include, American Airlines, Nike, K-Mart, Land’s End, Barnes & Noble, Overstock.com, REI and more.

“iCashé Mobile Wallet is the latest example of how OnPoint is offering the best technology and convenience services to its members,” said Rob Stuart, OnPoint Community Credit Union president and CEO. “We are happy to have a local company, Tyfone as our partner. Their commitment to providing secure and innovative mobile programs is remarkable.”

More information about Tyfone’s iCashé solution can be found at: www.iCashe.com.

About OnPoint Community Credit Union

OnPoint Community Credit Union is the largest credit union in Oregon, serving more than 226,000 members and with assets of $2.9 billion. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 13 Oregon (Benton, Clackamas, Columbia, Crook, Deschutes, Jefferson, Lane, Linn, Marion, Multnomah, Polk, Washington and Yamhill) and two Washington counties (Skamania and Clark). More information is available at www.onpointcu.com or 503-228-7077 or 800-527-3932.

Tyfone, iCashé, SideSafe, SideTap and u4ia are trademarks of Tyfone, Inc. All others names are the property of their respective owners.

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Holly Woolard

Mobility Public Relations

Mobile: +1-503-360-7144

Tyfone Press Kit: http://tyfone.mobilitypr.com

Tyfone on Twitter: @Tyfone

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Tyfone Introduces iCashé Mobile Wallet That Combines Mobile Banking With Digital Commerce

Tyfone — Wed, 12 Oct 2011 11:25:39 +0000

iCashé is the first mobile wallet people can use today to make purchases from over 100 participating merchant brands

PORTLAND, Ore. and CTIA Enterprise and Applications in SAN DIEGO – MobilityWire^® – October 12, 2011

Tyfone (www.tyfone.com) announced today the availability of iCashé™, a new mobile wallet and eCommerce engine that for the first time delivers purchasing power through any mobile banking application. Built entirely on top of Tyfone’s award-winning u4ia® mobile financial services platform, iCashé is the industry’s only service to blend comprehensive mobile banking features with convenient consumer purchasing, gifting and loyalty programs. With the option of adding Tyfone’s SideTap™ microSD secure element technology, iCashé also provides contactless NFC payments and the highest level of secure identity management.

“While financial institutions recognize the need to provide mobile banking, the watch and wait approach many have taken towards mobile wallet services sets the stage for disintermediation by others including Google and ISIS,” said Andy Schmidt, research director at TowerGroup, a Corporate Executive Board company. “Combining mobile wallet with mobile banking gives banks – and merchants – the opportunity to avoid this disintermediation.”

The first iCashé feature to debut is a highly convenient commerce service available through a mobile banking application that allows people to purchase, send and redeem merchant gift cards from over 100 different name brand merchants including: Barnes & Noble, Fandango and Zappos.com. With iCashé, gift cards can be purchased and stored on a person’s mobile phone for personal use, or sent to anyone in the United States via email or text message. iCashé requires a person to be logged into a trusted mobile banking app, making purchasing highly efficient, secure and as easy as checking an account balance.

“iCashé is the first wallet service that allows people to use mobile banking for commerce,” said Siva Narendra, Tyfone’s president of North America. “A bank ATM card has limited value if a person can only use it to check balances or transfer funds; the same is true for a mobile banking application. By providing consumers a mobile application that combines banking with commerce capabilities, we’re not only putting the value and utility of a real wallet into a mobile app, we’re strengthening the bond between consumers and financial institutions. If banks give their customers something of value, it’s fair for them to make money from it. iCashé is the first service giving financial institutions revenue generating opportunities from mobile banking.”

Though Tyfone has built an award-winning and fully-featured mobile banking solution, there is no requirement for banks and other financial institutions to use Tyfone Mobile Banking in order to offer iCashé to their customers. Any financial institution can offer customers using electronic and mobile banking convenient commerce services built on top of iCashé, and all financial institutions using iCashé will immediately enjoy a new revenue stream based on incremental transaction fees from iCashé purchases.

“OnPoint Community Credit Union members who use Tyfone’s leading edge mobile banking service find great utility from it and have a greater volume of banking transactions,” said Jim Armstrong, OnPoint’s senior vice president of technology. “Giving people the ability to make purchases through OnPoint’s mobile banking app is a logical technology evolution. Once the retail NFC infrastructure is in place, our mobile banking members using Tyfone’s iCashé will likewise be ready to make contactless payments through our banking app.”

Tyfone’s patented contactless payments technology lets people customize a secure digital wallet, just as they do with the wallet in their purse or pocket today. Tyfone’s SideTap microSD memory cards allow most phones on the market today to be enabled with contactless NFC payments. Tyfone’s secure ID management meets or exceeds the security and authentication requirements for corporate mobile banking and high value transactions; and for consumers, financial institutions can extend superior security technology engineered for mobile handsets to also include tablets and personal computers through the use of Tyfone’s SideTap or SideSafe™ microSD cards.

More information about Tyfone’s iCashé solution can be found at: www.iCashe.com.

Tyfone, iCashé, SideSafe, SideTap and u4ia are trademarks of Tyfone, Inc. All others names are the property of their respective owners.

# # #

CONTACT INFORMATION

Holly Woolard

Mobility Public Relations

Mobile: +1-503-360-7144

Tyfone Press Kit: http://tyfone.mobilitypr.com

Tyfone on Twitter: @Tyfone

Technorati Tags: Tyfone | mobile banking | mobile payments | mobile financial services | CTIA Enterprise & Applications

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mobeam Closes Initial Venture Round

mobeam — Mon, 03 Oct 2011 09:19:46 +0000

mobeam will drive evolution of mobile couponing and ticketing with new light based communications that enable mobile phones to send information to the more than 165 million red laser scanners already in use around the world

CUPERTINO, Calif. – MobilityWire^® – October 3, 2011

mobeam, inc. (www.mobeam.com) announced today that it has closed a $4.9 million Series A venture round, receiving funding from yet2Ventures, Samsung Ventures and Mitsui, together with other independent investors. mobeam’s patented technology overcomes the technical barrier preventing mobile phones from interacting with the laser scanners used at retail locations around the world. Funds from this multimillion dollar funding round will be used to establish mobeam’s light based communications (LBC) technology as a new industry standard allowing mobile phones to interact with point of sale (POS) technology. mobeam is also using these new funds to accelerate business development efforts with major consumer and retail brands for mobile couponing and other broad mobile commerce initiatives.

“Laser scanners are used in all major retail locations throughout the world, yet no current mobile technology can communicate with them, except for mobeam,” said Ben duPont, general partner of yet2Ventures. “Increasingly, mobile phones are the centerpiece of everyone’s daily lives, but in order to deliver a complete digital commerce experience they must communicate universally with scanners at point of sale. That’s the beauty of mobeam; ‘mobeaming’ a barcode works accurately and reliably every time, and it makes the technologies retailers already have far more useful while adding a new layer of intelligence gathering for retailers and brands.”

Due to the way mobile handset screens are constructed, even the most vibrantly displayed barcode cannot be read by the commonly used laser scanners found at point of sale in most retailers. mobeam technology affordably adapts existing mobile technology to already deployed retail POS infrastructure, opening the door to a wide range of previously impossible mobile commerce programs and services.

mobeam’s patented light based communication (LBC) technology utilizes LED technology already used on the vast majority of handsets to transform barcodes into a beam of light that every laser scanner can read. This technology makes it possible, for the first time, for a phone to present a coupon that can be easily and conveniently scanned and redeemed, without the need for retailers to upgrade their technology. Beyond mobile couponing, mobeam’s technology brings applications such as mobile ticketing and other mobile content enabled services to the next level.

“mobeam’s technology addresses virtually every POS environment,” said Chris Sellers, CEO of mobeam. “Not only is mobeam the only way to use light to interact with a laser scanner, our technology can also simultaneously display 2D images and initiate NFC transmission, making it possible for retailers, brands and device manufacturers to rethink mobile commerce. mobeam is solving a significant problem for consumers, brands, retailers and every other player along the retail value chain. The potential for mobeam’s light based communications technology – from mobile couponing to ticketing to mobile content – promises to be a tremendous industry game changer.”

About mobeam
mobeam, inc. is transforming mobile commerce with its unique and patented light based communications technology. Overcoming the technical barrier preventing mobile phones from interacting with laser scanners at checkout, mobeam’s technology provides universal access at point of sale (POS), enabling the transmission of coupons, gift cards, tickets and other barcode data at retailers worldwide. mobeam’s technology powers new capabilities for existing mobile phone designs, and requires no changes to retailer POS infrastructure. mobeam is headquartered in Cupertino, California. For more information visit www.mobeam.com.

About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies’ core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.

About Mitsui
Mitsui Ventures is a venture investment arm of Mitsui & Co., Ltd. on a mission to invest in venture companies worldwide. Mitsui Ventures consists of MVC Corporation, investing mainly in Japan, China and other Asian countries with three offices in Tokyo, Shanghai and Beijing, and Mitsui & Co. Venture Partners, Inc., investing mainly in North America with two offices in New York and Silicon Valley.

About yet2Ventures
yet2Ventures is an Open Innovation venture capital fund and is affiliated with yet2.com, a firm that has offered intellectual property and licensing services globally since 1999. Yet2Ventures partners with industry and focuses on start-ups delivering revolutionary products to market, in medical devices, electronics, mobile, materials science, and consumer products. It has offices in; Boston, Tokyo, Liverpool, and Wilmington, Delaware. For more information on yet2Ventures and yet2.com, visit www.yet2ventures.com or www.yet2.com; or call 1-781-972-0600.

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CONTACT INFORMATION

John Sidline

Mobility Public Relations

Work: +1-503-946-3311

Email: mobeam@mobilitypr.com

Website: http://www.mobeam.com

mobeam Press Kit: http://mobeam.mobilitypr.com

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MEDIA ADVISORY: Tyfone to Showcase Bank Branded Mobile Wallets at CTIA Enterprise & Applications

Tyfone — Fri, 30 Sep 2011 11:57:29 +0000

PORTLAND, Ore. – MobilityWire^® – September 30, 2011

Tyfone (www.tyfone.com), a mobile financial solutions provider, will be showcasing its mobile financial services technologies at the upcoming Pepcom MobileFocus® event in San Diego, California, October 11.

Tyfone technologies are based on the u4ia® (pronounced “euphoria”) platform that represents the 4 U´s of the mobile channel – universal, ubiquitous, unique and unison. The u4ia Mobile Transaction software platform is a neutral infrastructure for cloud computing based mobile services. It enables consumers to access information via the access mode of their choice (SMS, mobile Web and App) in one platform and has the flexibility to securely mobilize any existing data source.

The mobile financial services technologies that run on u4ia include:

iCashe: Tyfone’s patent-pending mobile wallet that generates 3% transaction revenue for banks and credit unions.
SideTap™: Tyfone’s patented SideTap microSD product can be added to mobile devices to enable secure element functionality and contactless payments via NFC.
Secure ID Management/SideSafe™: Tyfone’s u4ia platform along with SideSafe allows for true multi-factor authentication, making possible an unlimited number of applications that necessitate Secure ID and Authentication.
Tyfone Mobile Banking: Tyfone´s highly-secure, multi-access mobile banking service solution (SMS, WAP, App).

Tyfone will have important news at CTIA and is providing the following resources for media:

A table at Pepcom’s MobileFocus® media event – held Tuesday, October 11 from 7:00 to 10:00 P.M. at the San Diego Marriott Marquis and Marina, 333 West Harbor Drive, near the San Diego Convention Center. Press registration information for MobileFocus is available at http://www.pepcom.com.
Online press kit available at http://tyfone.mobilitypr.com.
Media availability of Co-founder and President North America, Dr. Siva G. Narendra, and CFO, Don Bloodworth.

To receive news under embargo or arrange meetings with Tyfone executives at CTIA WIRELESS, contact Tyfone media contacts:

John Sidline (On site at CTIA): +1-503-989-5474 (mobile, can receive text messages)
Holly Woolard (On site at CTIA): +1-503-360-7144 (mobile, can receive text messages)
Melissa Burns (On site at CTIA): +1-208-850-5939 (mobile, can receive text messages)
All Tyfone media contacts can be reached by email at tyfone@mobilitypr.com.

About Tyfone

Founded in 2004, Tyfone’s corporate headquarters are in Portland, Oregon, and its Asia-Pacific headquarters are in Bangalore, India. Tyfone connects money and mobility via a highly secure, scalable and flexible mobile financial services solution tailored to meet the evolving needs of consumers, financial institutions, mobile network operators, transportation companies and retailers. Operating in any standard memory card slot, Tyfone’s u4ia® platform and its companion SideTap™ memory card comprise the world’s first patented, neutral, and comprehensive memory card-based payments solution for mobile contactless payments. 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. For more information visit www.tyfone.com.

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CONTACT INFORMATION

Holly Woolard

Mobility Public Relations

Work: +1-503-343-4144

Tyfone Press Kit: http://tyfone.mobilitypr.com

Tyfone on Twitter: @Tyfone

Technorati Tags: Tyfone | mobile banking | mobile payments | mobile financial services | CTIA Enterprise & Applications

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PaymentOne Announces Groundbreaking 7 Day Payout for Mobile Payments

PaymentOne — Wed, 21 Sep 2011 16:15:01 +0000

PayOne FastPay eliminates industry standard 90 day wait; puts cash in merchant’s accounts faster than ever

SAN JOSE, Calif. – MobilityWire^® – September 21, 2011

PaymentOne Corporation® (www.paymentone.com), a global leader in mobile payments, today announced PayOne FastPay, an industry-first mobile payments program that guarantees disbursements to merchants in as fast as seven days, dramatically reducing the typical 60-90 day waiting period for payouts required by carriers and other mobile payment vendors.

Merchants and publishers have long been frustrated by extended wait periods to receive their cash from mobile payments providers, often as much as 90 days. In contrast, because of its long-standing carrier relationships and strong financial position, PaymentOne is able to dramatically reduce these wait times for its merchant customers. The PayOne FastPay program is the first in the industry to remove the industry standard 60-90 day wait times and guarantee qualified digital merchants their cash settlements in as fast as seven days.

“In addition to offering the broadest global reach and best merchant payout rates in the industry, it’s also important to ensure our customers have reliable and rapid cash flow,” said PaymentOne executive vice president Brad Singer. “PaymentOne tells consumers to ‘put your wallet away and use your phone number to pay’; we tell our merchants you should not have to wait to get paid or worry if your money is safe.”

In an effort to provide the best financial returns and eliminate risk for its customers, PaymentOne has established the Financial Services Group (FSG) within the company. PayOne FastPay is just the first in a planned set of innovative financial optimization and risk elimination programs the FSG will unveil for PaymentOne’s global merchants.

“For more than a decade PaymentOne has been a principal market leader in carrier billing, and is recognized as pioneering the business model as the industry knows it today,” said Yankee Group senior analyst, Nick Holland. “To eliminate risk, merchants should look to proven vendors like PaymentOne. Accelerating mobile payment settlement cycles adds significant value to clients, and showcases PaymentOne’s continued innovation and market leadership.”

PaymentOne’s new PayOne FastPay program is available immediately. Merchants and publishers interested in PayOne FastPay can contact PaymentOne sales at 408-362-4191 or info@paymentone.com.

About PaymentOne
PaymentOne is the leader in integrated operator billing, spanning mobile, fixed line and broadband payment services. Twelve years ago PaymentOne invented the “no credit card required” billing model, allowing consumers to simply bill digital purchases to their mobile, broadband or home phone bill. With its global network and direct carrier relationships that provide access to more than 3.5 billion consumers, PaymentOne has generated over $5 billion of incremental revenue for digital merchants, social media publishers and content providers, earning the company the highest customer retention rate in the business. Profitable and privately held, PaymentOne is based in the Silicon Valley. For more information visit www.PaymentOne.com.

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CONTACT INFORMATION

John Sidline

Mobility Public Relations

Work: +1-503-946-3311

Email: paymentone@mobilitypr.com

Website: http://www.paymentone.com

PaymentOne Press Kit: http://paymentone.mobilitypr.com

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Tyfone to License SideTap MicroSD NFC and Secure Element Card Technologies to AboMem

Tyfone — Mon, 19 Sep 2011 08:50:04 +0000

Strategic relationship with AboMem includes go-to-market distribution of SideTap cards across China

PORTLAND, Ore. and TAIPEI, Taiwan – MobilityWire^® – September 19, 2011

Tyfone (www.tyfone.com) announced today an agreement with AboMem Technology Corp. (www.abomem.com.tw), Taiwan’s premier memory products manufacturing company, to manufacture, distribute and service Tyfone’s SideTap™ microSD NFC products. This partnership also includes a widespread distribution of SideTap microSD cards to consumers throughout The People’s Republic of China via AboMem’s extensive distribution network.

Tyfone’s patented SideTap microSD product can be added to mobile devices for enabling secure element functionality with NFC connectivity. SideTap is a unique feature of Tyfone’s groundbreaking u4ia® platform that provides end-to-end mobile financial services solutions from informational services and commerce to secure identity and contactless payments via NFC.

“A necessary element required for the success of add-on NFC and secure element capabilities is the ability to scale to meet demand,” said Nick Holland, senior analyst with the Yankee Group. “This announcement demonstrates that Tyfone will be equipped with the manufacturing capabilities that will be critical for matching incoming demand for NFC hardware as the floodgates are opened.”

“AboMem has partnered with Tyfone because of its commitment, innovation, superior technology and patent portfolio for enabling mobile commerce,” said Aaron Yang, chairman of AboMem. “AboMem has seen Tyfone evolve SideTap from the prototype phase into a market-ready solution, and is excited to take our relationship to the next level and look forward to achieving success in China and the rest of the world.”

This agreement leverages AboMem’s established manufacturing and distribution infrastructure with Tyfone’s design and manufacturing know-how to achieve wide-scale adoption of an add-on secure element solution.

“Tyfone’s partnership with AboMem in China enables Tyfone to scale its business with a recognized leader in manufacturing memory products, and unleash its established distribution supply chain,” said Prabhakar Tadepalli, Tyfone’s president of Asia Pacific and chief operating officer. “The support AboMem has provided Tyfone over the past several years for our vision for mobile commerce has been invaluable, and we look forward to our partnership and the opportunity to serve the world’s largest consumer market.”

Companies wishing to deploy SideTap microSD secure element solutions will be able to purchase directly from AboMem, a recognized manufacturer, while working with Tyfone on TSM software integration for identity provisioning and implementation of mobility services.

For more information on Tyfone’s SideTap microSD solution, please visit: www.tyfone.com/product-contactless-payment.

About AboMem
AboMem Technology Corporation specializes in designing, manufacturing and marketing portable memory products and various test devices of memory products. To provide users in suitable storage device, AboMem’s developed products include Linear Flash Card, SRAM Card, IDE Card, Multi Media Card, SD and MoBe USB Drive.

AboMem has the strongest capability in memory storage device to support both OEM and ODM style for customers. That is why internationally well-known customers seeking to create customer-designed products select AboMem. Since its establishment AboMem has been not only capable to supply specialized memory storage device compliance with customer’s requirement but also continuously enhance performance and innovation in quality, price and service to meet the world standard. For more information visit www.abomem.com.tw.

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CONTACT INFORMATION

Holly Woolard

Mobility Public Relations

Work: +1-503-343-4144

Tyfone Press Kit: http://tyfone.mobilitypr.com

Tyfone on Twitter: @Tyfone

Technorati Tags: Tyfone | mobile banking | mobile payments | NFC contactless payments | AboMem

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MEDIA ADVISORY: Tyfone to Showcase Mobile Banking and Transaction Revenue Generating Mobile Wallet at Symitar Educational Conference

Tyfone — Tue, 06 Sep 2011 14:45:06 +0000

PORTLAND, Ore. – MobilityWire^® – September 6, 2011

Tyfone (www.tyfone.com), a mobile financial solutions provider, will be exhibiting at the Symitar Educational Conference (SEC) held in San Diego, Calif., September 20-22, 2011. Tyfone’s mobile banking solutions integrate seamlessly with the Symitar Episys core. Tyfone will be showcasing its secure mobile banking technology, its unique revenue generation Mobile Wallet Service called iCashé and introducing SideSafe – its Secure Mobile Authentication solution at the event.

Symitar hosts annual education conference and technology expos with the ultimate goal of providing credit union professionals with a forum to learn about how Symitar’s products and services can help them reach their distinct service, operational, performance and growth goals.

Tyfone’s u4ia® platform, in addition to comprehensive mobile banking, enables an average 3% transaction fee revenue generation through iCashé mobile wallet services. u4ia platform also provides enhanced strong ID authentication with SideSafe microSD with a seamless migration path to secure NFC contactless payments with SideTap. Only Tyfone’s solution provides a single platform to provide end-to-end secure digital wallet and payment services by the credit union to its members.

“Tyfone’s mobile wallet services provide direct Symitar Episys core integrated mobile banking, commerce services, enhanced strong ID authentication mobile security and NFC contactless payment technology,” said Mark Miyamoto, Tyfone’s director of mobile banking. “Not only does Tyfone provide mobile banking solutions that are able to be deployed quickly by credit unions but also gives revenue through iCashé and a roadmap to the future of mobile commerce. As the lines between mobile banking and digital wallet services begin to blur, Tyfone is well positioned to bridge the gap with an extremely secure and integrated service offering that can help credit unions serve their members’ needs.”

Tyfone’s multimode mobile banking solution (SMS, mobile Web, App) already offers a complete range of features delivered to credit union members. In addition to the standard mobile banking features such as account balance, account history, fund transfers, branch / ATM location lookup and bill pay, Tyfone offers financial institutions the ability to offer mobile banking to 100% of its membership, mobile enrollment and management, account aggregation, mobile remote deposit capture (mRDC), and more. With the implementation of Tyfone’s iCashé Mobile Wallet Services, credit unions can now generate, on average, 3% transaction revenue that provides an enhanced member experience with lower overall cost of deployment.

For more information about Tyfone’s integration with the Symitar Episys core and Tyfone’s mobile banking solutions, please visit www.tyfone.com or Booth 626 the SEC.

Tyfone will be holding a special promotion for Symitar conference goers and has extended the promotion to those unable to attend the event. Visit www.tyfone.com/win100 for more information.

About Symitar

Symitar, a Jack Henry Company, is the leading provider of core processing solutions for credit unions of all sizes, now supporting more than 650 credit unions – including six corporate credit unions and approximately 30 percent of the credit unions with assets exceeding $1 billion – with enterprise-wide automation.

Symitar’s credit union solutions encompass two functionally distinct core systems; approximately 50 integrated complementary products and services; in-house and outsourced operating alternatives; contemporary technology; and the infrastructure necessary to support each client as a single point of contact, support, and accountability.

About Tyfone

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CONTACT INFORMATION

Holly Woolard

Mobility Public Relations

Work: +1-503-343-4144

Tyfone Press Kit: http://tyfone.mobilitypr.com

Tyfone on Twitter: @Tyfone

Technorati Tags: Tyfone | mobile banking | mobile payments | mobile financial services | Symitar Educational Conference

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