MPS has the skinny on contactless mobile payments
15 June 2009 | 1388 views | 0
Source: Mobile Payment Skins
MPS is introducing a mobile phone skinning technology that makes contactless mobile payments less about itself and more about the card holder.
MPS has a focus in on-demand personalized mobile phone payment skins. This means a card holder has the ability to select their phone model and select their specific graphical artwork to order their own mobile skin that fits them the best. Their specific skin is then printed and fabricated on-demand and sent to them. When the card holder receives the vinyl skin, it is pealed from its backing and "wrapped" onto their mobile phone. The skin is embedded with a contactless payment chip that gives the stylish skin added function at the point of sale. A simple wave of the mobile phone at a contactless POS reader makes a transaction with the merchant. It is easy as that.
"We think of ourselves like the Card Lab of mobile phones. Card holders can personalize there skin to their liking on demand. This in itself is not new. Skinit, Mytego, Unique Skins, and others have been making on-demand personalized vinyl mobile phone wraps for a few years. We are just adding some payment functionality to these inexpensive skins. Mobile banking is a powerful tool, and we think mobile POS payment is even more powerful. The mobile phone is as ubiquitous as the wallet, we should try to leverage that," said Doug Yeager, co-founder of MPS.
"I've seen contactless cards and even used my paypass card once or twice. I thought it would be cool to pay with my phone if I could. After not being impressed with solutions in this area, I knew we had to make something that was customer focused because most people don't care about the technology itself, so we wanted to hide that part. Vinyl wraps are the perfect vehicle, people like them, they are stylish, they are about THEM, they are cheap, and they fit into the card distribution model very similar to payment cards themselves. Combine that with their flat, shippable form factor and we believe it is a win/win for banks and card holders," added Adam Landrum, co founder of MPS.
MPS is launching a mobile payment skin card product named PHOOLAH this fall.
"We are excited about demonstrating the value of combining mobile payment with on- demand personalization. This launch allows us to do just that. I think it is something customers can understand and use pretty easily," commented Doug Yeager.