Thursday, May 5, 2011

DigiMo pioneers first true mobile payment solution

HOD HASHARON, ISRAEL: DigiMo announced the completion of its development of a new platform providing the first true mobile payment solution. The solution requires no hardware or software modification at either the Point-Of-Sale (POS) or mobile device itself, whether cell phone, tablet computer, smart phone, etc. It is ready for immediate deployment worldwide.

Consumers simply register for the service online, supply their preferred billing method and phone number, receive a PIN, and pay quickly and easily at any participating retailer.

The service is designed for online giants, credit card companies and mobile operators who want to launch a wide-scale mobile payment service at multiple retailers without requiring POS integration at each one.

“Over the past decade, numerous attempts have been made to launch a wide-scale mobile payments service. Up to now, no agreement existed regarding the technological standards and business model, due to heavy investments associated with the implementation,” said Yossi Yarkoni, CEO, DigiMo. “We’ve avoided this by developing an independent system that works at virtually any point-of-sale, replacing cash and credit cards with mobile handsets.”

With DigiMo, retailers, telecom companies, and financial service providers finally acquire a truly mobile payment solution that requires virtually no investment. With only one intermediary in the payment process, retailers can profitably enhance the customer experience. DigiMo’s solution easily integrates customer loyalty programs, coupons and interactive discounts. Telcos, credit card companies, and financial institutions can white label DigiMo as a value-added service.

DigiMo’s technology addresses all aspects of payment security, including end-user privacy, non-repudiation and administrative privileges. The solution can be operated from almost every handset with 2G and up or as an application for smart phones.

“DigiMo’s technology is the next great revolution in consumer convenience,” concluded Yarkoni. “We had meetings this week with Silicon Valley giants like Google, Apple, Facebook, Microsoft and PayPal, who can bring a significant consumer base to the table, consumers who are seeking the benefits of our solution. These potential new partners can and will finally turn mobile payment to a widespread commercial service.”

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