This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Multicard And Rabobank Deploy Cashless Payment Solution

OUD-BEIJERLAND, Netherlands, March 22, 2011 (GLOBE NEWSWIRE) -- Multicard, a leading supplier of credential solutions, identity management and system integration services and a business unit of Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV), today announced the roll-out of its mobile cashless payment solution with Rabobank, one of Netherland's largest financial services companies. Rabobank selected Multicard to provide the e-payment stickers and related services that will enable users to make purchases using their current mobile phones, directly from a virtual wallet. Multicard and Rabobank have been working closely to fine tune the solution and now are deploying it to canteens and cafeterias within Rabobank's national network of offices.

"The vision of having an electronic wallet and simply waiving your phone in front of a terminal to purchase goods and services has become real. Rabobank and Multicard are at the leading edge of this trend, already delivering a mobile payment solution that provides security and convenience and that works with existing mobile phones. Every day, more than 1,500 people are using the application to pay for lunch or make small purchases with their mobile phones," said Pieter Kooistra, Managing Director of Multicard Netherlands. "This virtual wallet can be accessed and managed over the Internet rather than having to be loaded with value at special banking terminals, and payments can be made using a mobile phone or a contactless token such as a key fob or wristband."

In addition to providing personalization and fulfillment services for the program, Multicard will provide mobile phone applications to transfer money, check balance and top-up money to the wallet, as well as handle management of all transactions, incorporating Rabobank's MiniTix payment engine. Intended for small retail transactions, MiniTix can be used by virtually anyone, regardless of the user's mobile operator or mobile phone brand. Rabobank currently is signing up additional merchants and facilities such as schools, cafés and sport venues to participate in the program, so that participants will be able to use their existing phone stickers to pay for food, beverages, event programs and the like.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs