The technology in the solution includes a set of APIs (application programming interfaces) for brick and mortar merchants, e-commerce merchants and mobile developers. The tool will allow them to provide payment options to their customers within mobile websites, mobile applications and at point of sale of brick and mortar stores.
The new service also allows for integration of the Cred-Ex pay vault platform, a feature that allows customers to make purchases from their mobile devices using their revolving credit information stored within their Cred-Ex vault accounts.
To use Cred-Ex’s new Mobile Payments Solution (MPS) service, customers need to sign-up on the Cred-Ex web site for the first time. After the initial authentication process which includes credit approval and mobile phone registration, they will be able to make all future purchases from their registered device without having to sign in again. This includes the Cred-Ex pay vault functionality. Existing Cred-Ex account holder will only need to register their mobile device once, using their control panel on the Cred-Ex web site.
As the mobile Cred-Ex web site shows, mobile shoppers can complete the purchase in four steps using this new technology. First, the customer clicks on the ‘Cred-Ex Widget’ on their iPhone or BlackBerry, or simply goes to Cred-Ex.com from their web enable smart phone. This will direct them to Cred-Ex’s mobile interface. From there, the customer will be asked to enter their registered e-mail, last 4 digit of SSN, the store-provided reference number and to click on ‘Submit’. After the payment is authorized, the customer will then be provided with an approval code and an e-mail confirmation relating to their purchase.
Developers and merchants already using Cred-Ex’s patented alternative payment solution on their websites are not required to do any additional development work – the service will automatically detect when customers are shopping from a mobile device and will switch over to the new mobile optimized payment interface.
Moreover, the developers can continue to use Cred-Ex’s flexible APIs they’ve already been using to build their applications and they don’t need to go back and re-code anything to make the apps mobile-compatible.
Stephane Touboul, CEO of Emerging Payments Technologies, said: “We are very proud of our Cred-Ex mobile payment application. M-Commerce is undoubtedly the next trend in payment. The Cred-Ex m-commerce solution technology allows consumers to feel safe and secure using their mobile device to make purchases at their favorite retail stores without cash, debit or credit cards.”
