Proxama shortlisted for international Contactless Monkey Awards

Date: 31 Mar 2011

Proxama’s mobile wallet enables mobile phones users to make contactless payments by tapping it on a payment terminal, in much the same way as you would use an Oyster Card on the London Underground. The mobile wallet is compatible with all NFC-enabled phones and can already be used in UK stores such as Subway, Caffe Nero, Pret a Manger and Barnardos.

It is the UK’s first contactless pre-paid mobile phone payment application and heralds the onset of mass market m-payments (mobile contactless payments) as NFC starts to be integrated into the new generation of smart phones. The mobile wallet is quick and simple to use - payments are typically 12.5 seconds faster than cash payments - and will ultimately replace the need  for people to carry multiple credit and debit cards, as it will link all payment accounts onto one device.  

Founder and CEO of Proxama, Neil Garner said: “All of us at Proxama are delighted to have been shortlisted for this award as it recognises our pioneering work and the innovation required to bring about a step-change to the way we use mobile phones.  We are certain that m-payments will revolutionise the way people access and manage their finances, and with retail outlets adopting contactless infrastructure at a fast pace, this could be even closer than we imagined. Once the large handset manufacturers start to market NFC-enabled phones we expect to see a rapid uptake of m-payments that will eventually consign card-based Chip&Pin payments to the museum.”

The mobile wallet enables consumers to monitor spending and budgeting via their handset, giving them further control over their finances and can be topped up in a similar way to Oyster cards.

Proxama has addressed the issue of security by developing a handy device to authorise its use. TouchSafe is a credit card sized security tag that can be kept in the user’s pocket. The user needs only to tap the phone against it to confirm the transaction. The security tag can also be integrated into items such as a badge or key fob, to suit the user’s convenience or fashion sense!