Bank Systems & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Payments

10:21 AM
Connect Directly
Facebook
Twitter
Google+
RSS
E-Mail
50%
50%

Mobile Commerce Company Payfone Debuts Checkout Solution

The "1 Touch Checkout" solution enables convenient mobile payments, the company says.

New York-based m-commerce company Payfone today announed the release of a new mobile payments solution, 1 Touch Checkout, on a limited basis. Payfone also announced Cleveland-based payment transactions firm CardinalCommerce as its first channel partner.

According to Payfone, the solution ties shoppers' mobile identities with payment instruments, and is designed to stem shopping cart abandonment in mobile commerce sales. The patent-pending solution securely authenticates transactions through bank and carrier networks. According to Payfone, consumers who use the solution do not need to download or install anything on their phones, they register once through a mobile banking app and billing and shipping information is automatically linked to the mobile phone identity so purchases can be made. The company also said that merchants can deploy the solution over their existing account structure, with no new code or payment mark required.

Payfone said it is currently growing its partner ecosystem and will launch a pilot program later this fall. The company's investors include American Express and Verizon.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

Register for Bank Systems & Technology Newsletters
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.