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VeriFone And SK C&C Team On Mobile Wallet Acceptance

Stocks in this article: PAY

VeriFone Systems, Inc. (NYSE: PAY), and SK C&C, the Korea-based global IT services company, announced today they are partnering on deployment of open interface standards and technology platforms for management of digital wallet services, acceptance solutions and mobile commerce. The two companies are currently in deployment activity with several large mobile network operators (MNOs).

SKC&C has adopted VeriFone’s OpenAPI common interface standards that govern communication between a mobile wallet and a merchant’s acceptance device. The OpenAPI standards ensure that value-added wallet data such as offers, coupons and loyalty, are universally accepted and flow seamlessly through merchant systems without disruption of traditional transactions.

“MNOs are eager to deploy an end-to-end wallet solution, but need standardized interfaces and technology platforms to manage the complexity of advanced value-added mobile wallet applications for both consumers and merchants,” said Paul Rasori, senior vice president of Marketing for VeriFone. “VeriFone payment solutions and services are widely adopted globally and, combined with our PAYmedia Mobile Marketing Platform, provide a management solution for SK C&C’s wallet infrastructure.”

The current deployment projects involve a peer-mode interface to enable an active dialogue between a mobile wallet and the merchant’s payment acceptance device. Seamless integration of SK C&C’s wallet solution with VeriFone technology platforms provides MNOs the ability to more rapidly deploy advanced mobile wallet services. MNOs are able to implement a variety of payment and non-payment transactions through the interaction of consumer mobile devices and merchant acceptance systems.

“With our mobile technology expertise, SK C&C has delivered innovative mobile commerce solutions to leading global MNOs, merchants, and platform companies. Our partnership with VeriFone will enable MNOs to rapidly and easily deploy their mobile commerce services in the market,” said Kim Min Seok, vice president of SK C&C’s mCommerce division.

VeriFone’s PAYmedia Mobile Marketing Platform connects the independent ecosystems of issuance and acceptance into one fully integrated environment. This makes it possible to deliver coupons, promotions and loyalty offers to consumer mobile devices based on geo-targeting, purchase history and demographic data, allowing consumers to receive and redeem promotional and loyalty offers and discounts on their mobile devices at the point of sale.

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