CorFire and Payfone devise enhanced m-wallet application

Enables merchants to deliver fast and secure solutions

CorFire, the mobile commerce arm of global payments technology provider, SK C&C USA, and Payfone, a remote mobile commerce company are collaborating to integrate CorFire’s mobile wallet application, CorPay, with Payfone’s remote mobile commerce solution (view press release). The enhanced device aims to enable merchants to deliver fast and secure solutions without risk to security or consumer experience.

By integrating Payfone’s technology with CorFire’s mobile offerings, we streamline mobile commerce for the retailer and provide a secure channel for consumers to fully leverage mobile,” said Jon Squire, CMO of CorFire. “The process eliminates lengthy account entry and ensures the legitimate end-user is in possession of the phone where the merchant m-commerce app is installed.”

According to Juniper Research, the worldwide remote mobile digital payments market is forecasted to surpass USD 2.5 billion by 2014. However, some merchants struggle with low conversion rates due to consumer frustration with the process, which the new service aims to resolve.

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