Multi-platform payment system called Moneto
DeviceFidelity Inc., a leader in contactless plug and play technologies, has begun demonstrating its mobile wallet platform, Moneto, this week. The company is attending the FinovateSpring 2012 event in San Francisco, California, where it has begun showing off the new mobile money payment system, which utilizes NFC technology to facilitate contactless transactions. DeviceFidelity claims that the Moneto system is the first multi-platform payment platform that can be used for a variety of mobile devices.
Mobile commerce becoming popular among young consumers
Mobile commerce is quickly becoming a popular subject around the world. Young consumers are enthralled with the idea of using their mobile devices to pay for goods and services. Many companies have been working on developing mobile wallet applications, but these applications are often restricted to a certain platform and can only be used on NFC-enabled mobile devices. My making a multi-platform mobile wallet system, DeviceFidelity believes that the popularity of mobile commerce will grow more quickly as more people are able to make mobile payments.
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Moneto able to work with nearly any mobile device
Moneto can be connected to nearly any mobile device. DeviceFidelity notes that Moneto is ideal for consumers who value convenience and security in their transactions. The system is designed to be simple and user-friendly, allowing anyone to pick it up and use it to make purchases. The company will be demonstrating the capabilities of the o Moneto system at the FinovateSpring event and has plans to continue trials into the future.
DeviceFidelity may find staunch competition with PayPal
DeviceFidelity claims that Moneto is the world’s first multi-platform mobile payment system. This may not be the case for long, however, as PayPal has developed a mobile payment system that can be used with various platforms. Currently, PayPal’s system only supports iOS mobile devices, but the company has plans to expand this availability to Android and Blackberry platforms in the coming years. The primary difference between the two systems is that Moneto utilizes NFC technology and PayPal’s does not.