World's first white label mobile commerce solution launched with Bank of Ayudhya to be real game changer for the future of mobile payments
Swiff, the global innovator of secure mobile commerce solutions, today announced the world’s first complete live implementation of an end-to-end, secure mobile point of sale (mPOS) solution.
The partnership with Thailand’s leading consumer finance bank, Bank of Ayudhya (BAY) and the Swiff platform will allow the bank to provide their customers with new retail opportunities made possible by the flexibility and low cost of Mobile POS.
“This is an exciting time for the payment industry, with technology being the bedrock for enhanced mobility, payments, convenience and productivity improvements,” said Jerome Cle, CEO and Founder of SCCP Group. “We’re ready to empower banks worldwide withtechnologies that enable truly secure mobile strategies, allowing them to stay competitive in the m-commerce revolution and take back market share from aggregators in that market.”
Unlike other mobile payment companies, Swiff is not a payment aggregator and is a technology provider and partner to the banking and financial industry. Through Swiff’s innovative and unique technology, banks have the tools to roll out mobile strategies that enable bank-level secured, authenticated transactions. Swiff’s mobile platform is embedded with a Multi-Factor Authentication application that has the ability to track the mobile device, the staff who authorised the transaction, and identify the location where the payment was transacted. This enables the quick identification of any possible fraudulent use of the credit card, and promises an extremely high level of security for safe and secure card transactions.
“Our strongest differentiator lies in our ability to seamlessly integrate into any acquiring bank, allowing the bank to rapidly provide an mPOS service to existing and new merchants. On the commercial front, we are opening doors for banks to achieve a richer level of engagement with their customers. Increasingly, people are changing their payment habits and are more willing to use cashless systems through mobile devices to do banking, money transfer, and commerce activities,” said Erik Holst-Roness, Executive Vice-President of SCCP Group.
Philip Tan, Head of E-Business of Bank of Ayudhya said, “Swiff is a strong component ofour mobile strategy in the payment chain, especially with its bank-level authentication and identification technologies which enable easy and secure payment transactions. Through this partnership, we now have a new way to engage with our customers, allowing us to grow and build customer relationships and provide a service that can help our customers become increasingly mobile in their payment processes.”
Swiff was first launched by SCCP Group in Singapore since March 2012 and plans are underway for further bank partnerships to be developed in growth markets for the US, Europe, and Asia Pacific.