HybridPayTech, a division of Freeport Capital in the mobile payment space, has announced it has selected Vodafone’s global machine-to-machine (M2M) platform to provide connectivity for its mobile payment service.
The service allows businesses to equip mobile employees with smartphones or tablets that can securely process credit and debit card payments globally using Vodafone’s network. This will allow businesses to fully embrace mobile payments for the first time while also introducing new revenue stream and improving the customer payment experience.
HybridPaytech provides an end-to-end mobile payment service that can process both credit and debit card transactions. It is currently the only company to implement adequate security measures to meet the strict criteria of the debit card firms. By allowing businesses to process credit and debit card transactions using standard smartphones and tablets, the market for mobile payments is expected to increase dramatically.
Vodafone will provide global M2M SIM cards, remote device management tools and highly secure, worldwide connectivity for the mobile payment devices.
Massimo Barone, Founder & Chair of HybridPaytech’s Advisory Board, stated, “The ability to process credit and debit card payments anywhere in the world using a wide variety of standard mobile devices will drastically simplify how companies charge their customers. The fact that we can support both credit and debit cards means the mobile payment market can now really take off. By working with Vodafone we not only benefit from a highly secure, comprehensive global network – we also receive international SIM cards and management tools that make it easy to remotely monitor, repair and update the payment terminals.”
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