Verifone partners Bank of China and China Mobile for NFC payments

PAYMEDIA implementation in China

VeriFone Systems has entered an agreement with telecommunications company China Mobile and financial institution Bank of China to deploy VeriFone’s managed services solutions for NFC payment and mobile marketing in Shen Yang, China.

This represents the first implementation of VeriFone’s PAYMEDIA Mobile Marketing Platform (MMP), a solution that enables merchants, brands and third parties to launch highly targeted campaigns to mobile wallet subscribers. A key element in the NFC implementation is VeriFone’s PAYMEDIA Universal Acceptance Platform (UAP), which provides the Shen Yang alliance with a solution for control over NFC mobile commerce acceptance. As an open standard, the UAP allows for mobile commerce over any enabled acceptance network.

Another alliance member, Shen Yang Badatong E-Commerce, is equipping thousands of merchant locations with VeriFone NFC acceptance systems to enable payment and redemption via NFC at the point of sale.

PAYMEDIA UAP enables Mobile Network Operators (MNOs) and wallet providers to download wallet acceptance applications directly to merchants’ point of sale systems and allows merchants to connect these apps to providers via VeriFone’s cloud-based gateway. PAYMEDIA MMP complements mobile wallet acceptance by driving consumers to merchants with offers, promotions and digital coupons that can be used as they complete their transactions.

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