VeriFone announces release of new PAYMEDIA Universal Acceptance Platform

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Mobile Commerce
VeriFone Systems, Inc. has unveiled their new PAYMEDIA Universal Acceptance Platform (UAP), which is designed to offer a full service and software suite which will give mobile network operators (MNOs) the ability to manage the acceptance of mobile wallets at merchant systems.

PAYMEDIA UAP was developed to complete the circuit between merchants and mobile wallet providers, so that they have everything that is necessary for providing customers with advanced mobile couponing, promotions, and mobile payment apps.

It makes certain that that the transactions from all types of mobile wallet will work smoothly through the merchant processing systems, and will make it possible for the providers of the wallets to significantly broaden their features and services, as well as the apps that deliver them. The hope is that this will help to build consumer loyalty and use of the applications.

According to the senior vice president of marketing at VeriFone, Paul Rasori, what has always been lacking in the mobile wallet plans from MNOs is the “focus on how to provision, integrate and manage wallet and value-added acceptance apps at merchants’ systems.”

Rasori went on to explain that this helps to fill the gap in the NFC system, that has been left behind until now. It works by managing the various levels of challenges associated with mobile commerce and making sure that the buying experience will feel seamless regardless of which app, wallet, or program is being used.

It lets wallet providers and MNOs download the acceptance applications for a wallet directly into the merchants systems at the point of sale. This way, the merchant can use the cloud-based PAYMEDIA Network Services to connect to the provider and the app.

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