AcCells and mChek showcase patent pending breakthrough in Contactless Payments
Contactless invocation of mChek SIM Toolkit payments application by AcCells mID enables secure contactless payments with no change to existing handsets and MNO/Banking infrastructure
Tweet-- AcCells, a developer of contactless technologyfor the mobile phone industry and mChek, a leading provider of Mobile Paymentsservices in India and Sri Lanka,today showcased a patent-pending breakthrough for Contactless Payments.Combining service initiation by AcCells mID and transaction authorization withthe mChek SIM Toolkit, the solution presents a new level of user experience,transaction cost and efficiency. Most importantly the solution works with ALLexisting mobile phones, does not require ANY change to infrastructure andplatforms of Mobile Network Operators and/or Banking Infrastructure, and worksin MNO-led or Bank-led environments.
ContactlessMobile Payments are seen as a key growth area of the future – however, theindustry has been plagued by the necessity to enhance Point of Sale terminalsand to replace the entire install base of more than three billion mobile phonesthat are currently in the market. Despite significant investments, the industryhas largely been at a pilot stage due to the Catch 22 of investment interminals vs. mobile handsets. AcCells' mID is capable of identifying anymobile handset using only near field GSM signaling and, when connected withauthentication and billing servers, allows users to make mobile paymentsdirectly and securely from their handset. AcCells’ revolutionary mobileidentification device allows the industry to achieve fast, simple, and securemobile payments and transactions for all mobile phone owners without upgradingthe existing installed base. “The partnership with mChek enables us to useAcCells’ core technology to launch a unique payment solution with exceptionaldesign and performance for mobile consumers”, said Eduardo Shoval, CEO ofAcCells. “This will allow us to reach the key markets in India and Sri Lanka and to establish afoundation for mobile commerce applications which can benefit mobile handsetusers worldwide. We are very excited to have this opportunity.”
ThemChek platform enables banking-grade security through a SIM Toolkitapplication, enabling banks to issue Visa Debit, Credit or Prepaid cards forsecure remote payments – the service is widely deployed in India by Bharti Airtel and in Sri Lanka by Dialog Telekom. Todate more than 25Million SIM cards have been shipped with the mChek applicationand leading banks in India – ICICI Bank, HDFC Bank, Corporation Bank, StandardChartered Bank – are already issuing Visa cards on mChek – and several otherbanks and MNO’s around the globe are in various stages of deployments. “We arepleased to work with AcCells and extend the reach of mChek to ContactlessOver-The-Counter payments without any change to the widely deployed mChekservice”, said Sanjay Swamy, CEO of mChek. “Banks, MNO’s, retailers andconsumers can now benefit from contactless payments with a minimum ofinvestment”.
Notes to Editor
About AcCells
AcCellswas launched by seasoned and prominent technologists to commercialize abreakthrough innovation that lays the foundation for a new paradigm in mobilepayments. Our vision is to create an infrastructure which will stimulate thegrowth of mobile payment applications worldwide. AcCells will pave the way forindustry growth by sidestepping the enormous cost of upgrading while expandingthe potential end user market. Visit websites at www.accells.com
About mChek
Bangalore-basedmChek (www.mchek.com) provides patent-pending, mobile-based, security andpayment services enabling users to transact through their mobiles forwide-ranging day-to-day requirements including payment of utility bills andinsurance policies, movie & travel ticketing, prepaid recharge andpost-paid bill payment. Consumers can sign up at www.mchek.com or by sending asms ‘AIRTEL’ to 543219 (toll-free) from their Airtel phones. The mChekapplication is available by default on all Airtel SIM cards. mChek is certifiedPCI-DSS1.2 and ISO 27001. The mChek on Airtel service was the winner of theBest Billing and Customer Care Solution from the GSM Association at the 2009Mobile World Congress in Barcelona.