Welcome!

Mobile IoT Authors: Pat Romanski, Yeshim Deniz, Elizabeth White, Zakia Bouachraoui, Carmen Gonzalez

News Feed Item

Payfone Reinvents Mobile Commerce Checkout With Availability of 1 Touch Checkout(TM)

CardinalCommerce Joins Payfone Ecosystem as Channel Partner

NEW YORK, NY -- (Marketwire) -- 09/11/12 -- Payfone, the leading mobile commerce company, today announced limited availability of 1 Touch Checkout™, a new mobile commerce checkout solution that connects shoppers' mobile identities with their payment instruments to enable the easiest, fastest and most secure mobile commerce checkout experience possible. Payfone also announced that CardinalCommerce has joined the Payfone Ecosystem as its channel partner. The company will roll out Payfone's solution to a network of merchants to accelerate the widespread adoption of this new approach to mobile commerce.

Finding a Cure for Shopping Cart Abandonment
In 2011, U.S. mobile commerce sales surged 91.4 percent to reach $6.7 billion. Continued strong growth will boost this number to $31 billion in 2015.(1) Despite the growth and innovation in the market, mobile commerce conversions remain stagnant, but shopping cart abandonment continues to be high at 69 percent(2). This low performance is primarily attributed to the complex, time-consuming checkout process that makes mobile shopping a daunting experience to the user. Payfone's technology changes that.

"Consumers know that a frictionless checkout process is possible, but most retailers struggle to provide this kind of experience," said Rodger Desai, CEO, Payfone. "Payfone is providing an elegant mobile commerce checkout solution that doesn't interfere with any part of the checkout process or sacrifice security throughout the payment flow. We're pleased to welcome CardinalCommerce to our partner ecosystem and make our solution available to thousands of merchants."

"As a company whose mission is to seamlessly enable payments for our merchants at any point-of-interaction, Payfone is a welcomed addition to our platform," said Tim Sherwin, co-founder and executive vice president, CardinalCommerce. "Payfone can be easily accessed by any of our merchants who already have an integration to our payment platform, Cardinal Centinel®. Once the initial set-up of Centinel is complete, adding Payfone is simple. Our merchants can be comforted that with Cardinal Centinel, they have immediate access to any and all new payment initiatives helping them realize the revenue potential of eCommerce and mobile commerce."

How It's Different
1 Touch Checkout is a patent-pending solution that creates a streamlined mobile commerce checkout process by securely authenticating transactions through bank and carrier networks. This revolutionary approach ties the shopper's identity to the mobile phone number, simplifying the checkout process while adding another layer of security to mobile shopping. Payfone's solution is:

  • Merchant friendly: Retailers deploy Payfone's solution over their existing account structure -- no new code or payment mark required.
  • Easy and secure for consumers: There is nothing for shoppers to download or install; after registering once through their mobile banking app, billing and shipping information is automatically linked to the mobile phone identity so purchases can be made in a few quick steps.

"Consumers have shown the market that they want to shop using their mobile devices, but the biggest hurdle to widespread adoption is a simpler checkout experience," said Nick Holland, senior analyst, Yankee Group. "Payfone 1 Touch Checkout offers a straightforward and secure solution that is much needed for remote mobile commerce to take off and realize its potential."

Payfone is currently growing its partner ecosystem and will launch a pilot program later this fall. Merchants, channel partners and financial institutions interested in participating or receiving a demo can inquire via [email protected]. Payfone will also be demonstrating 1 Touch Checkout at Finovate New York, Sept. 13 at 3:10 p.m. ET.

About Cardinal Commerce
CardinalCommerce has been a pioneer in the remote payments industry since 1999 and is a branded global leader in enabling authenticated payment transactions in the electronic commerce and remote commerce markets. CardinalCommerce is headquartered in Cleveland, Ohio and services a worldwide Customer base from facilities in the United States, Europe and Africa. For more information, visit www.cardinalcommerce.com.

About Payfone
Payfone is the leading mobile commerce company that links mobile identity with the payment process to help merchants provide an enhanced mobile commerce experience -- from check-in to check-out. By leveraging loyalty credentials and other forms of customer data, Payfone's unique technology helps merchants turn anonymous mobile users into loyal mobile customers. The company's investors include Fortune 500 financial institutions and wireless service providers such as American Express, Verizon Wireless and Rogers Communications. Payfone is based in New York City with development centers in San Jose, Calif. and Denver, Colo. For more information, visit www.payfone.com.

(1) eMarketer, "US Mobile Commerce Forecast," January 2012. http://www.scribd.com/doc/79908424/eMarketer-US-Mobile-Commerce-Forecast-Capitalizing-on-Consumers-Urgent-Needs

(2) Shop.org and Forrester Research, "The State of Retailing Online: Mobile Marketing," July 2, 2012. http://www.shop.org/soro

Press Contact:
Shannon Hutto
Bateman Group for Payfone
Email Contact
(415) 503-1818

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
IT professionals are also embracing the reality of Serverless architectures, which are critical to developing and operating real-time applications and services. Serverless is particularly important as enterprises of all sizes develop and deploy Internet of Things (IoT) initiatives. Serverless and Kubernetes are great examples of continuous, rapid pace of change in enterprise IT. They also raise a number of critical issues and questions about employee training, development processes, and opera...
This month @nodexl announced that ServerlessSUMMIT & DevOpsSUMMIT own the world's top three most influential Kubernetes domains which are more influential than LinkedIn, Twitter, YouTube, Medium, Infoworld and Microsoft combined. NodeXL is a template for Microsoft® Excel® (2007, 2010, 2013 and 2016) on Windows (XP, Vista, 7, 8, 10) that lets you enter a network edge list into a workbook, click a button, see a network graph, and get a detailed summary report, all in the familiar environment of...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
AI and machine learning disruption for Enterprises started happening in the areas such as IT operations management (ITOPs) and Cloud management and SaaS apps. In 2019 CIOs will see disruptive solutions for Cloud & Devops, AI/ML driven IT Ops and Cloud Ops. Customers want AI-driven multi-cloud operations for monitoring, detection, prevention of disruptions. Disruptions cause revenue loss, unhappy users, impacts brand reputation etc.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Atmosera delivers modern cloud services that maximize the advantages of cloud-based infrastructures. Offering private, hybrid, and public cloud solutions, Atmosera works closely with customers to engineer, deploy, and operate cloud architectures with advanced services that deliver strategic business outcomes. Atmosera's expertise simplifies the process of cloud transformation and our 20+ years of experience managing complex IT environments provides our customers with the confidence and trust tha...
The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get tailored market studies; and more.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...