Verizon Wireless And Payfone Team Up For Mobile Payment Solution

Verizon Wireless And Payfone Team Up For Mobile Payment Solution

Verizon Wireless and Payfone are teaming up to launch a new mobile payment system for Verizon Wireless customers. When the new service becomes available, it will let Verizon Wireless customers make online purchases from their smartphones, tablets and PCs. With the service, customers will be able to charge things directly to their monthly wireless statements or charge through financial institution partners.

Verizon Wireless And Payfone Power New Mobile Payment Solution

New Service Will Allow Verizon Wireless Customers to Make Mobile Payments for Online Purchases from Smartphones, Tablets and PCs

06/13/2011 - BASKING RIDGE, NJ, and NEW YORK, NY — Verizon Wireless and Payfone, a leading mobile payment processing service, today announced the companies are working together to bring a new mobile payment system to Verizon Wireless customers. When available, the service will allow Verizon Wireless customers to make online purchases from their smartphones, tablets and PCs using numerous payment methods, including charging purchases to their monthly wireless statements or using traditional payment methods through financial institution partners.

“Our relationship with Payfone complements the part of the mobile payments equation we’re already working on with our Isis joint venture,” said Greg Haller, marketing vice president, Verizon Wireless. “We approach the mobile payments arena from a customer’s perspective. As we move forward, the most important goals will be security, privacy and simplicity. Through our relationship with Payfone, we will be able to quickly offer value to our customers by offering them greater choice and a simple, safe and secure purchasing experience when shopping online from their smartphones, tablets and PCs.”

With Payfone’s unique approach to mobile payments, operators and merchants are able to complete transactions securely and accurately. Payfone also provides other features important to consumers and merchants, including intelligent routing, pre-authorization and authentication designed to reduce the friction and fraud that affect sales conversion and revenue yield for merchants and operators.

“We are pleased to be working with Verizon Wireless to deliver a new level of convenience, security and flexibility to their customers and to boost revenue and conversion for operators, merchants and publishers,” states Rodger Desai, chief executive officer, Payfone. “This underscores Verizon Wireless’ dedication to cutting-edge innovation as it stays ahead of the mobile payments curve.”

For more information about Verizon Wireless products and services, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or go to www.verizonwireless.com.

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This can be a good thing and a bad thing. Kids can go crazy spending on their parents bill :P. Thats like giving them a credit card.

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Inspector:

This can be a good thing and a bad thing. Kids can go crazy spending on their parents bill :P. Thats like giving them a credit card.

I agree, there would have to be a way to lock this down or set a monthly spending limit. If deployed properly it can be a really good way to give kids an allowance and to teach them responsibility.

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Agreed. When used responsibly, this can be a very handy way to pay for things. However, it's also very easy for people to spend more than they realize (just like they do with credit cards) and get themselves into trouble. But then I won't get started on the whole "spending outside of one's means" habit that our country is in...

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Enter the Age of Insta-Gratification and one-click purchasing. For better or worse, here it comes. I'm kinda leery of this way of paying, there has to be huge potential for identity thefts, even the way things are, my money is hardly safe. I think I'll pass on this convenience till others have proven it.

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