Bank of China International is using SMS technology from Mobileway to authenticate payment transactions conducted over mobile phones.
Mobileway's Mobile Transaction Tracker is being used by the bank for credit/debit cardholder authentication during SMS or telephone orders initiated by Visa cardholders in Hong Kong.
The Mobile Transaction Tracker works by managing a request and response tracking mechanism for an SMS session. For each new transaction, a new service number is dynamically allocated in order to originate the message sent to the consumer and track the response from the consumer. When validating the transaction, the consumer only has to hit the 'reply' button avoiding the need to rekey data.