CPNI (CPNI) today announced that it will offer Financial Institutions the integration of CPNI's Phone Authorized Transfer (PAT) mobile commerce software with Sun Java Composite Application Platform Suite (Java CAPS).
The new integration will provide Financial Institutions with a less costly and more efficient path to the profitable person to person mobile payments market.
By joining forces CPNI and Sun technology can provide faster, easier integration with Financial Institutions, accelerating the rate at which mobile payments can be deployed to bank customers and the speed at which Financial Institutions can tap into the rapidly emerging mobile payments market. Juniper Research forecasts 41.5 billion mobile financial service transactions will be made globally by the end of 2011. The GSMA estimates the current $375 billion USD global remittance market to grow to more than $1 trillion USD by 2012.
Java CAPS has been deployed by hundreds of global customers and more than 350 partners. A lightweight and extensible SOA platform, Java CAPS lets users rapidly add and integrate components in a modular fashion. Users are able to leverage existing and new IT investments to create an infrastructure that is more agile and better aligned with the needs of their organizations.
The ability to provide CPNI's bank-centric person to person mobile payments solution further enhances an already robust offering.
CPNI's mobile commerce software, designed for Financial Institutions, provides a dynamic set of mobile payment and mobile banking solutions.
PATsend allows people to send money to other people anywhere in the world simply by entering the recipient's phone number on their mobile phone. PAT provides the infrastructure so people can send money to unbanked recipients and to users not yet registered for the service, broadening the number of potential users for Financial Institutions. PATsend is complemented by PATbuy (TM) which enables mobile purchases from merchants and PATbank (TM) which provides a full suite of mobile banking services.
"Sun provides the leading global financial messaging solution for fully automated end-to-end payment processing around the world," said Ambreesh Khanna, global head of financial services for Sun Microsystems. "By joining together our powerful technology with CPNI's mobile payment solutions, we are further extending our reach in the emerging and fast-growing mobile commerce channel."
"The integration of our PATsend person to person mobile payments solution with Sun's Java CAPS provides huge benefits," commented Patrick Bird, President and CEO of CPNI. "Java CAPS provides a single interface for direct communication with Financial Institutions. Banks can quickly and efficiently create a new revenue stream by offering a convenient, cutting-edge mobile payment service to their customers."