 Home Products TranzWare Mobile
 The ownership of mobile phones has risen by an outstanding amount in recent years and in certain countries the number of mobiles in circulation is much higher than that of payment cards. Developments in mobile technologies have given rise to m-Commerce and unveiled many innovative and secure ways of using mobile phones. The demand for and use of mobile technologies is increasing at a phenomenal rate. Mobile phones are no longer just viewed as voice and text messaging devices but also as a means of making payments for physical and virtual goods and services, accessing bank accounts to do full function banking such as fund transfers, statement and account balance requests, viewing list of recent transactions, etc. This makes m-Commerce an extremely promising area, one that is able to deliver handsome rewards for those trying to capitalise on it.
TranzWare Mobile is a secure technology that is able to drive m-Commerce and to set organisations deploying it on the way to reaping superb benefits. In line with the aforementioned traditional banking transactions (and also including making of payments), TranzWare Mobile enables a more advanced service of purchasing goods and services (MobiPay subsystem) as well as a unique cash withdrawal service empowered by an in-house developed MobiCashATM™ technology (MobiCash subsystem).
 TranzWare MobiPay
 TranzWare MobiCash
In contrast to existing solutions on the market, TranzWare Mobile is independent of an interaction channel and therefore, offers a broad range of transaction initiation and response means, including SMS (over SMTP and SMPP), IVR, WAP, Java applets and other facilities for interaction with external hosts and systems. As such TranzWare Mobile does not require collaboration with several organisations in order to enable any of the services in the m-Commerce context. However, the product is flexible enough and can accommodate a co-operative business model between mobile telephone operators, financial institutions, payment systems and other organisations willing to participate in a project. Moreover, the product is scalable and can efficiently and effectively serve several financial institutions simultaneously (multi-host).
TranzWare Mobile is able to leverage any or all involved parties’ existing payment infrastructure and extend the line of present payment products (debit, credit, charge, virtual cards, etc) therefore, broadening offerings and meeting the demands of a new generation of consumers. The product can seamlessly integrate not only with third-party host solutions but can also be easily integrated into existing POS terminals and ATMs to ensure payment and cash withdrawals with a mobile phone as well as a payment card. In addition, as part of MobiCashATM™ – cash withdrawal technology, Compass Plus offers MobiCashDispenser™ – a purpose-built ATM for cash withdrawals initiated exclusively by a mobile phone. MobiCashDispenser has no card reader, keyboard or standard screen as these are replaced by a mobile phone. TranzWare Mobile is also designed to support 3-D Secure protocol, therefore enabling secure inter-bank transactions (such as funds transfer) by means of a mobile phone.
 TranzWare Mobile Architechture
TranzWare Mobile provides all the necessary data protection and authentication and builds its security based on: a unique customer identification number at the point of transaction initiation, PIN at transaction authorisation, blocking access to the service if PIN is entered incorrectly three times, notification service about payments and cash withdrawals (electronic receipts) and encrypted communications. Having to enter a PIN number can cut down fraud expenses for retailers as this method is more secure than that of verifying the customer's signature. The product also supports the industry standard POS and ATM protocols (including ISO8583, NDC+, Diebold, etc) for access to a processing centre and transaction authorisation.
TranzWare Mobile also provides graphical tools for developing customer interface scenarios, including support for customer interaction technologies based on loading of Java-applications and Micro SIM-browser technologies into a mobile phone, such as Intervale, JAST, S@T, etc.
Transactions
| – |
Balance enquires |
| |
|
| – |
Mini statement request |
| |
|
| – |
View list of last transactions |
| |
|
| – |
Card/account status request |
| |
|
| – |
Card limits information |
| |
|
| – |
Exchange rates information |
| |
|
| – |
Other account card information: various rates (APR, AER, etc.), fees, charges, payment schedules, credit and overdraft limits, etc. |
| |
|
| – |
Fund transfers |
| |
|
| – |
Payments (personal, one-off payment, periodic, deferred) |
| |
|
| – |
Payment to mobile service providers and ISPs |
| |
|
| – |
Payment for physical goods and services |
| |
|
| – |
Cash withdrawal (empowered by MobiCashATM™ technology) |
TranzWare Mobile Benefits
For customers:
| – |
Easy to operate: a logical sequence of simple actions |
| |
|
| – |
Access to a range of integrated mobile banking services |
| |
|
| – |
Convenience and availability of service at any time |
| |
|
| – |
No need to replace a handset or change a phone number |
| |
|
| – |
Security: if a phone is lost no one can use it to make purchases, withdraw cash or perform other transactions |
For banks:
| – |
Flexibility: availability of a variety of customer interaction channels thus ability to adapt the service to a specific market |
| |
|
| – |
Independence from mobile service providers |
| |
|
| – |
Opportunity: all mobile phone users are potential customers |
| |
|
| – |
New revenue streams |
| |
|
| – |
Reduction in fraud costs as customers have to enter PIN every time they carry out a transaction |
| |
|
| – |
Ability to leverage existing payment infrastructure |
| |
|
| – |
Other account card information: various rates (APR, AER, etc.), fees, charges, payment schedules, credit and overdraft limits, etc. |
| |
|
| – |
Improving existing image: establishing a bank as innovative and forward looking, thus, attracting young consumers |
| |
|
| – |
Cross-selling opportunities (e.g. provision of phone top-up service) |
| |
|
| – |
Access to a new advertising channel: knowing your customer’s mobile number opens up a new, relatively cheaper method of direct advertising |
| |
|
| – |
Unlimited scalability |
| |
|
| – |
Seamless integration with existing software systems and components |
| |
|
| – |
MobiCash function easily integrates with existing standard ATMs without extensive modifications |
For a detailed list of features and further information please download the brochure or contact us.
|
