Sonera subsidiary SmartTrust and EFT provider Mosaic Software have entered a partnership agreement to deliver wireless payment authentication solutions to banks and mobile operators.
Mosaic Software's Postilion and SmartTrust's Delivery Platform (DP) products have been integrated to enable mobile operators and financial services providers to accept authenticated payments from a mobile handset. The solution employs SMS or GPRS messaging to create a secure payment channel from the handset's SIM card through to its user's bank account.
Matti Heikkila, director, finance & payment partners at SmartTrust, explains: "Our mobile operator customers using SmartTrust Delivery Platform in conjunction with WIB-enabled (wireless Internet browser) SIM cards, now have a means of deploying payment services to an entire subscriber base using off-the-shelf interfaces to the banking community."
Willem van Biljon, director of new business development at Mosaic Software, adds: "SmartTrust provides us with a secure mobile interface and delivery platform, enabling us to take our world-leading payment solution from the ATM, POS (point-of-sale) and Internet onto the mobile device in a cost effective and user friendly way."
The solution is currently being implemented at an unnamed mobile operator, with others due to come on stream later this year.