Identity, Security, Payments, Biometrics, Smart Cards and Authentication News

Tyfone shaping mobile payments at FSTC 2008

Monday, June 16, 2008

Tyfone is attending FSTC (Financial Services Technology Consortium) 2008 Annual Conference, which starts today and runs through June 19th in Santa Rosa, California.

Throughout the show, Tyfone will demonstrate its Mobile Financial Services Platform consisting of a mobile banking software suite along with the company’s mobile payments technology.

The company has come up with a different way of enabling mobile payments. Instead of waiting for the handset manufacturers to release devices, Tyfone enables memory card-enabled phones to become capable of contactless payments. With security features implemented directly on the memory card, financial institutions and their customers are not tied to a mobile payments model that relies on a single carrier and a limited selection of handset models.


At 9:30 a.m. on the 19th, Siva Narendra, Tyfone’s CTO and Co-Founder, will address conference attendees on a panel entitled “Getting to Integrated and Interoperable Mobile Payments.” The session will be moderated by FSTC Managing Executive Jim Pitts. Narendra will outline Tyfone’s perspectives on the future outlook for mobile payments and the technologies, technical standards and industry cooperation needed to drive growth and adoption. [end] 

The European Payments Council (EPC) has published the second edition of its “White Paper on Mobile Payments.”

According to EPC, the white paper focuses on the usage of the mobile payments in the Single Euro Payments Area (SEPA) and explores how m-payment services can be delivered through cooperation between service providers in the payment industry and players within the mobile ecosystem.

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CoVantage Credit Union (CVCU) announced the availability of Tyfone’s mobile wallet services throughout its branches in Wisconsin and Michigan.

Some 64,000 CVCU members can now use Tyfone’s mobile banking services, which include balance checking, account history review, fund transfers, branch and ATM location look-up, as well as several new features:

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Tyfone has announced the launch of iCashe, a new mobile wallet and eCommerce engine that blends mobile banking features with consumer purchasing, gifting and loyalty programs.

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OnPoint Community Credit Union, an Oregon-based institution, has announced the launch of Tyfone’s iCashé Mobile Wallet program.

The new service enables OnPoint’s 226,000 members to buy gift cards over a mobile phone and send them to others via SMS or email. Gift card recipients can use their cards in-store or online via their smart phone or with a printed copy of the confirmation email.

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Proxama has announced a partnership with semiconductor supplier ARM Holdings to create secure payment mechanisms for mobile handsets.

The UK-based partners say they will combine ARM’s TrustZone technology with Proxama’s Mobile Wallet to develop a “highly secure” environment for NFC-enabled mobile contactless payments and mobile internet payments.

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Visa, in partnership with Monitise, has launched a suite of new mobile financial services on its revamped Debit Processing Service platform, enabling mobile phone users to check their account history and balances, transfer funds between accounts, and receive real-time transaction alerts.

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