Vantiv, an integrated payment processor, is launching a mobile payments platform in collaboration with Paydiant, a mobile payments company (view press release). Vantiv Mobile Wallet, as it has been called, is a contactless mobile wallet and payment platform which will enable merchants and financial institutions to deploy mobile payment and offer campaigns for their customers.
Vantiv claims that by utilising the Paydiant mobile payment and offer redemption platform, its mobile wallet solution overcomes the existing NFC infrastructure-related hurdles to mobile payment adoption faced by financial institutions and merchants. In addition, for merchants, Vantiv Mobile Wallet incorporates channels for integrated loyalty and rewards, and access to personalised offers and incentives delivered directly to their customers' mobile wallets, designed to create new opportunities for merchants to attract new customers, drive repeat business, additional spend, and customer loyalty.
Vantiv Mobile Wallet works with existing smartphones, including iPhone and Android devices, and does not require hardware upgrades to existing point-of-sale systems and payment terminals.