Demonstration of the mPay system at the 3GSM Congress
Last week's 3GSM Congress in Barcelona hosted mPay SA and its innovative mobile payment system.
mPay presented a universal mobile payment system that allows fast and secure transactions with use of mobile phones. Congress attendees had the opportunity to test the service at the company’s booth. The first group of applications featured vending machine payments, automated ticket sales, restaurant and shop payments, internet transaction settlements, TV shopping, remote gambling, parking lot payments and money transfers between natural persons.
Amongst all presentations, complex solutions created in cooperation with partners were shown: mobile transactions in vending machines (with BKtel Germany), cash registers (with Novitus), POS for charge cards (with Optimum) and catering systems (with Softech Bis). The visitors particularly appreciated the verstility and simplicity of the solution that allow to process any transaction type, as much as they did appreciate a very short payment processing time (no more than a few seconds).
Guests from around the world expressed their interest in implementation of mPay system — especially mobile telephony operators from developing countries, where payment instruments are poorly developed and dynamically evolving mobile telecommunication networks offering mobile payment methods are compelling and valuable alternative.
mPay representatives have established valuable contacts both with the representatives of major charge cards issuers, and providers of competitive on-market solutions and those still under tests. It has been widely expressed that mPay may be an excellent and dramatically more valuable alternative to the initiatives promoting new hardware solutions, such as vendor-side RFID readers or NFC user phones (this relates to the new generation of phones with integrated RFID readers). However, the mPay system allows transactions to be made from any mobile phone thanks to the NFC technology support, thus dramatically increasing speed and lowering cost of establishing a mobile payment user market.
The mPay company operates on a market full of opportunities and high growth potential. According to the ADLittle consulting company, global value of revenues related to the m-payment market will increase from USD 3.2 billion in 2003 to USD 37.1 billion in 2008. With poorly developed competition, innovativeness and comprehensiveness of the mPay service allow an optimistic insight in the future, where it is possible to create a new standard for accounting mobile transactions.
Great interest of visitors of the Congress and the number of gained contacts allows to look into the future with hope for swift implementation of the mPay mobile payment system nationwide and abroad. According to the company’s BoD, participating in that event turned out to be very fruitful and the effects will be visible in the near future.
3GSM Congress is the most important annual meeting of the mobile telecommunication branch representatives. During the event, market trends are set for the nearest future. This year, the event hosted 1300 participants whose exhibitions were visited by approximately 60,000 guests. According to official information, mPay SA was the only exhibitor in the mobile phone payment systems category.
mPay SA is a part of ATM SA group. The mobile payment system was developed thanks to employing a state-of-the-art solution designed by mPay SA with the support of ATM SA. The solution is currently patent pending in 57 countries. In 9 countries patents have already been granted.