Telecom Lead Team:
FIS, a provider of banking and payments technology, has launched an innovative
mobile payments solution that allows consumers to use smartphones to make purchases
at the point-of-sale (POS) and for online shopping.
cloud-based payment solution is adaptable and secure, requiring downloadable
applications for both consumers and retailers. Mobile payments solution can be
built into retailers’ and financial institutions’ existing mobile applications,
preserving brand equity and strengthening customer loyalty.
Mobile Wallet provides consumers with another option to electronically pay for
goods and services. Consumers with smartphones download an application offered
by their financial institution or retailer, attach their payment card
information and then use the solution to make a purchase
Mobile Wallet can be delivered to financial institutions and retailers alike.
Our focus is to provide market-leading capabilities that position our clients
to compete in payments across channels. The launch of this innovative new
capability extends and complements the FIS mobile suite significantly beyond
competitive offerings,” said said Gary Norcross, chief operating officer, FIS.
solution is currently in production with a number of pilots. The solution is a
software-only offering enabling easy deployment for financial institutions,
retailers and consumers.
institutions can launch a mobile wallet today and to attract and retain
customers via their own financial institution-branded mobile payments
solutions. Retailers and financial institutions will also benefit through the
solution’s ability to promote advertising, couponing and companion offers to
consumers directly through the application.
believe that many financial institutions and retailers are not comfortable
ceding their brand equity, customer relationships and transaction data to new
entrants in the payments ecosystem,” said Chris Gardner, co-founder, Paydiant.