Proxama and Tuxedo partner to simplify mobile contactless payments

Date: 11 Oct 2010

With the prepaid market expanding and contactless payment infrastructure rolling out, consumers will no longer be stranded if they forget their wallet. The Proxama-Tuxedo solution allows customers to pay for products and services using the NFC technology on their mobile phones. NFC (or Near Field Communication) is a short-range wireless connectivity that promises to revolutionise the way consumers access information, facilities and their finances. The partnership between Proxama and Tuxedo is a significant step to seeing this new way of spending come to life, especially as a number of NFC phone models will be available to the mass-market in early 2011.

The Proxama-Tuxedo solution negates the need for complex commercial partnerships and time-consuming technology development, helping network operators, banks, retailers and brands to leapfrog competition with a healthy return on investment.

It's a win-win product offering, giving brands a simple way to implement what is already seen as one of the fastest growing payment technologies and the consumer the convenience of paying for products and services without the need to carry numbers of cards and loose change.

Convenience is combined with security as customers can manage their funds on via the wallet on the handset and instantly block or cancel their account if their phone is lost or stolen. The mobile contactless payment technology can be used any of the the growing number of retail outlets that provide a Mastercard© Paypass™ terminal.

Mobile Contactless payment is just the start as consumers will be soon able to "tap" into many new types of mobile interaction from smart advertisements, access to venues, public travel and retail rewards.