| New, Alternative Payment Processing for Digital Content Reduces Merchant Costs |
PayNowSMS announces the availability of a new alternative payment processing service enabling merchants to accept card payments for content. Merchants joining the new scheme can benefit from lower cash collection costs compared to premium SMS and reverse billing, where operators typically charge higher fees. End-users register their details just once with PayNowSMS and may then purchase content from any merchant displaying the PayNowSMS logo by sending a simple text message from their mobile phones. The mobile payment processing platform which powers the PayNowSMS service has been designed and is operated by Upaid, the specialists in mobile payments.
PayNowSMS differentiates itself from other schemes by creating a single mobile payment brand that both consumers and merchants can easily recognise. Registered users know that anywhere they see the PayNowSMS logo that they can purchase content directly from their mobile handsets using their credit or debit card. Although PayNowSMS is initially targeting merchants in the entertainment and online gaming industries, the service can be extended to other types of merchants.
"The entertainment and gaming industries have always been the early adopters of new technologies and first in offering offer innovative services to the market. We will continue to extend the reach of PayNowSMS to new entrepreneurial merchants which will in turn provide more variety in services and convenience for PayNowSMS end-users," stated Aidan O'Kelly, Chairman of PayNowSMS.
Ashley Ward, CEO of Upaid, commented on how PayNowSMS represents innovation in mobile payments: "Services such as PayNowSMS will catalyse the mobile content industry, enabling more merchants to sell their products at an affordable commission rate. This can only result in more choice for end-users and unprecedented growth in the content market. We are excited about its potential and the credibility and validation it gives our technology platform."
PayNowSMS allows registered users to purchase both online and mobile content from affiliated merchants and pay with a credit or debit card of their choice. Users register their details, including mobile phone number and optional e-mail address once only, and can purchase content from a Web or WAP site, or by simply sending an SMS message. This message contains a unique code for the merchant and product and is sent to a mobile number dedicated to the service. The Upaid platform performs the necessary financial authorisations for the card purchase and instructs the appropriate PayNowSMS merchant to deliver the product to the user. Users can have content delivered directly to their mobile handsets or receive a username and password to access the content online. The PayNowSMS website also offers account management features, enabling users to track recent purchases and update their details via an easy-to-use Web interface.
PayNowSMS merchants currently using the service to deliver content to registered users include masktv.co.uk.
About PayNowSMS
The PayNowSMS team have long been recognised as leaders in the field of online and offline acquiring of high risk merchant transactions, With over 7 years experience in both on-shore and off-shore payment processing, the transition to mobile was a natural progression rather than a new concept. Leveraging existing client relationships in both the entertainment and mobile gaming sector, PayNowSMS allows players and consumers of content to finally play and pay mobile at the same time, and deliver revenue fast and efficiently direct to merchants.
PayNowSMS is based Gibraltar, has subsidiary offices in Vancouver and is opening a strategic office in LasVegas in January 2006.
PayNowSMS(TM) is a registered trademark. For more information visit, www.PayNowSMS.com.
About Upaid
Upaid is a leading specialist in mobile payments, offering applications and services which enable the transfer or value or funds from one account to another using the mobile phone. Upaid expertise and experience allows businesses to provide their customers with fast, convenient and intuitive access to a wide-range of mobile payment and information services. Our systems support a user interaction and business logic that is tailored for the unique characteristics of mobile technology. Applications range from the recharge of prepaid accounts to the monthly payment of bills via SMS and second factor authentication using the handset for risk alerts and authorisation for remote purchases. Upaid also provides a platform to support a complete eco-system for mobile commerce. The platform can be used for operator-driven payments system giving users choice in how they pay for content and other digital goods or as an operator-independent billing system.
Upaid has offices in the UK, France and,Brazil. Upaid(TM) is a registered trademarks of Upaid Systems, Ltd. For more information, please visit www.upaid.net.
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