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

PDS To Develop And Deploy An Innovative, Ultra Secure, Mobile Payments Application

Payment Data Systems, Inc. (OTCBB: PYDS), an integrated electronic payments solutions provider, today announced that it will develop and deploy a wireless mobile payments application branded as “ iRemotePay” http://www.iremotepay.com. The application will be initially deployed for the iPhone ®, iPad ®, and iTouch ®. Plans are to implement for Android phones at a future date.

The application will include a card reader device for the iPhone which enables a merchant to process credit card and ACH payments (e-Checks) over the wireless networks from remote locations and view these payment transactions while away from the office.

This application strategy is completely compatible with PDS’ market strategy which targets large enterprises with large customer bases and which have a need for remote payment processing applications on a full-time basis or just for special events. It is also targeted to smaller companies, such as HVAC or plumbing services, that have a need for wireless payment applications.

iRemotePay is unique from other mobile payment solutions in three key ways:
  • it is targeted to merchants that have one or multiple devices in their service market but have a need for a common settlement account;
  • it will allow the entry and processing of ACH payments (e-Checks); and
  • it is processor independent which means iRemotePay can act as a gateway to the merchant’s existing merchant processor who may not be Payment Data.

Additionally iRemotePay will be integrated with our back-office applications which enable the sale to be authorized and approved and then provide real-time access to view the completed transaction by the merchant’s accounting department or at the remote location by the person that entered the information.

iRemotePay also is being deployed with fully encrypted end-to-end transactions. Therefore it is being designed to be fully compliant with all current and future PCI security requirements.

iRemotePay is specifically designed for remote wireless applications. The following serves as a list of examples:
  • Special remote events;
  • Concerts;
  • Taxis and Limousines;
  • Plumbers and Electricians;
  • Installers and Repairmen;
  • Door to Door Sales;
  • Utility Companies’ On-Site Collections;
  • Flea Market Vendors;
  • Any Remote Sales Merchant.

iRemotePay features include:
  • Secure Payment Processing with end to end encryption of transaction data;
  • Allows our customer to leverage their existing wireless plan;
  • Internet-based reporting;
  • Back office support for corporate office or remote personnel so each can immediately view transactions as soon as a sale is made;
  • Integrated telephone and Web-based transaction reporting through all of our back-office applications such as fraud control and CSR View product;
  • Fast merchant setup time - as fast as 24 hours;
  • Supports all card types;
  • Supports entry and payment for ACH processing (e-checks).

Louis Hoch, President and COO of Payment Data Systems, Inc., said “iRemotePay is a great addition to our mobile-based merchant processing platform. Removing the need for fixed-location card entry terminals and taking advantage of an existing tool that is carried by tens of millions of people and simultaneously provides speed, security, and convenience for both the customer and the merchant representative clearly addresses the needs of the marketplace today and in the future.”

1 of 3

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs