Verizon Wireless To Launch Mobile Payment Service - HotHardware
Verizon Wireless To Launch Mobile Payment Service

Verizon Wireless To Launch Mobile Payment Service

This spring, Verizon Wireless customers will get the ability to pay for online content and digital goods through their mobile phone accounts. To facilitate this capability, Verizon Wireless plans to roll out Danal’s BilltoMobile payment service.

The BilltoMobile feature can be used when buying an item from Danal’s participating network of eCommerce partners. The service will have a monthly spending limit of $25. Parents can enable content controls for individual accounts.

The process of paying for something through BilltoMobile is relatively simple: A user clicks the BilltoMobile button during checkout and enters his mobile phone number and billing zip code. A text message with a one-time passcode is then sent to his mobile number. After entering this one-time passcode in the online checkout window, the transaction is complete.



Verizon Wireless Plans eCommerce Mobile Payment Service

Coming This Spring, Customers Can Choose to Bill Online Digital Purchases to their Wireless Accounts Using BilltoMobile(TM) from Danal

03/22/2010 - BASKING RIDGE, NJ; SEOUL, KOREA; and SAN JOSE, CA — Verizon Wireless and Danal, Inc., the global pioneer and leader in charging eCommerce transactions directly to mobile phone accounts, said today that Verizon Wireless plans to launch Danal’s BilltoMobile™ payment service later this spring, enabling Verizon Wireless customers to charge online purchases of digital goods directly to their monthly Verizon Wireless bills.

Verizon Wireless customers will be able to pay for online content and digital goods that are downloaded and consumed on their personal computers from Danal’s participating network of popular eCommerce merchant partners. A secure connection and integration between Verizon Wireless and Danal will provide features important to online consumers and merchants, including robust subscriber authentication and fraud protection, among others.

The mobile payment service will feature a $25-per-month spending limit for these purchases, along with content and parental controls for individual accounts, giving account owners the ability to manage their BilltoMobile usage. When available, customers with text messaging-enabled phones will be able to shop quickly, securely and conveniently for Verizon Wireless-approved content at online stores, including game sites, social networks and virtual worlds. Users will also be able to purchase subscriptions to popular online games.

“Verizon Wireless strives to bring its customers services and features they want and that make their lives simpler,” said Ryan Hughes, vice president of business development at Verizon Wireless. “Working with Danal will give our customers the opportunity to make direct online mobile payments with the most secure, feature-rich, convenient method available.”

“Verizon Wireless is combining the convenience of the mobile phone and its strong billing platform to provide their customers with a convenient mobile payment option,” remarked Jim Green well, chief executive officer of Danal, Inc. in the United States. “Verizon Wireless is the bellwether service provider in this space, and we see this agreement will likely be the beginning of a change in the industry’s approach to online mobile payments – one that involves ease of use and strong security for subscribers’ mobile payments, as well as robust user controls that will help individual subscribers and families manage their digital purchases and digital lives.”

The BilltoMobile payment service is simple for consumers. To conduct a transaction, consumers click on the BilltoMobile button during checkout at a participating online Web site and then input their mobile numbers and mobile billing zip codes for subscriber authentication. A text message is then sent to consumers’ mobile phones with a one-time passcode. Once consumers input this passcode into the online checkout window, the transaction is completed. The entire process takes about 15 seconds, and there is no pre-registration or links to credit cards or bank accounts required. In Korea, where Danal is the dominant mobile payments provider – and where credit card penetration rates are even higher than in the United States – 80 percent of all mobile subscribers have chosen to use direct mobile billing, and up to 60 percent of all online digital content purchases in Korea are now billed directly to mobile accounts.

BilltoMobile is now partnering with prominent online merchants in the United States, including popular online game publishers, virtual worlds, social networks, and other sites selling digital items, content and services online. The attractive merchant fees associated with the BilltoMobile payment service, which are significantly lower than traditional mobile billing rates, along with strong security and merchant back office tools, is creating a major network of participating online sites. Danal will be announcing some of its signed merchant agreements in the near future.

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As much as I love Online Bill pay. I am always sceptical about electronic funds transfers?

Paypal has developed a good credit card security for online purchases. I just wonder if Verizon can compete with those type of security measures?

My other concern would be the security surrounding funds transfer from a mobile device. Since hackers are always looking to intercept phone signals and hack passwords and info, this might be something that they would love to implement. Either way, it is just another form of getting your money away from you as fast as they can.

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the idea is nice but a $25 monthly limit??? what are you going to buy with $25 a month that is going to be useful?

Animatortom this also applies to paypals bump to transfer money app :)

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Add WiFi to vending machines so I can buy soda from my phone! That is what I want.

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