DALLAS--(BUSINESS WIRE)--Mobile Equity Corp, a mobile payment solutions developer, today announces the release of its flagship product suite, the QRUZ Pay Product Line. The products offer a safe, fast and easy mobile payment platform for consumers worldwide.
QRUZ enables financial institutions and digital wallets to communicate directly with any point-of-sale (POS) terminal or merchant worldwide with a simple software update. By utilizing the QRUZ Pay Product Line, merchants will not incur any expenses relating to hardware upgrades, such as those required by EMV and NFC technologies. Furthermore, consumers can access the platform via their existing mobile devices, including flip phones and smartphones.
Traditionally, POS terminals capture valuable information from the consumer, such as credit card information and physical address, and transmits the information for payment processing. By utilizing QRUZ, consumers are able to immediately approve the transaction from the bank or digital wallet via their mobile device and designate which account on file they would like to use for that payment. The transaction is then finalized by the processes already set in place by financial institutions. This results in the transaction being 100 percent secure, since no personal data from the consumer is captured, transmitted or stored by the merchant.
“We believe there is no reason a retailer needs to capture the credit card information from consumers when making payment transactions as it opens the door for cybercriminals to exploit that information,” said Marwan Afana, Chief Executive Officer of Mobile Equity Corp. “Therefore, we developed a solution that mitigates this process completely and shares no personal data during the transaction. This technology will not only have a profound impact on the payment processing industry, but will also open the door to reducing the burden of compliance costs related to consumer cardholder data collection for merchants.”
The company currently has patents in the U.S., Taiwan and South Africa, as well as additional pending patents worldwide. After extensive development, Mobile Equity is ready to launch its QRUZ Pay Product Line across financial institutions, digital wallets, payment processors and merchants.
Executives from Mobile Equity Corp are at Money20/20 in Las Vegas, Oct. 23-26, 2016, exhibiting how the product works. Attendants can visit Booth #2054 to view real-time demonstrations on money transfers with the QRUZ application. To learn more about the QRUZ Pay Product Line, please visit www.qruz.com.
About Mobile Equity Corp
Mobile Equity Corp provides a mobile payment solution designed to allow consumers to transfer money in a fast and easy manner that is 100 percent secure. The company’s technology allows financial institutions to communicate directly with POS systems and the customer to transfer money in a one-way channel, thus eliminating the need for retailers to capture credit card or personal information. The technology is integrated into the company’s flagship product suite for businesses, the QRUZ Pay Product Line. For more information, visit www.qruz.com.