mChek showcases Contactless Payment (works without NFC)
mChek, in partnership with Israel based Accells has showcased a contactless payment solution, that works without NFC chips and with existing 2G technologies and Card Management Platforms.
Combining service initiation by AcCells mID (i.e mobile identification) and transaction authorization with the mChek SIM Toolkit, the solution works with all existing mobile phones and does not require any change to infrastructure and platforms of Mobile Network Operators and/or Banking Infrastructure, and works in MNO-led or Bank-led environments.
AcCells’ mID is capable of identifying any mobile handset using only near field GSM signaling and, when connected with authentication and billing servers, allows users to make mobile payments directly and securely from their handset.
mChek platform enables banking-grade security through a SIM Toolkit application, enabling banks to issue Visa Debit, Credit or Prepaid cards for secure remote payments.
Recommended: mChek reached a million userbase few months back – read our interview with mChek.
Also see: CashNxt – Your Mobile is the ATM
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About the author - Ashish Sinha is a Startup Mentor/Product Strategy Coach, and the founder/chief editor of pluGGd.in.
He has launched/managed couple of products (consumer as well as enterprise) in US and India, and now consults with startups/small businesses on their product/media strategy. He can be reached at: ashish (at) pluGGd.in [+91 98452 06443]
A flash demo can be seen at: http://main.mchek.com/accells_demo/