As the US telco JV Isis scales back its
m-payments ambitions, Verizon Wireless looks to m-payment
processing service Payfone to ensure it stays ahead in the
m-payments game.
The newly formed partnership will allow
Verizon Wireless customers to make online purchases via their
smartphones, tablets and PCs using a variety of payment methods
including, charging purchases to their monthly wireless statements
and other unspecified traditional methods via financial institution
partners.
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Verizon Wireless teamed up with other US
telcos AT&T and T-Mobile to form Isis, a m-payments JV, in
November 2010. Greg Haller, marketing vice president for Verizon
Wireless, said the deal with Payfone complements the mobile
payments equation the company is already working on with Isis.
“Through our relationship with Payfone, we
will be able to quickly offer value to our customers by offering
them greater choice and a simple, safe and secure purchasing
experience when shopping online from their smartphones, tablets and
PCs,” said Haller.
Payfone also provides other features seen as important to both
consumers and merchants. These include intelligent routing,
pre-authorisation and authentication, designed to reduce the
friction and fraud that affect sales conversion and revenue yield
for merchants and operators.
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By GlobalData
