Paying easily from your cell phone
The Product: Payment system integrated with mobile operators
VISA / MasterCard have a rather good penetration in the US and European markets. However, there are still many countries which are on the way to it.
The Solution: According to research, cellphones and Mobile Operator penetration is taking place faster than card services in the developing countries that allow for the use of mobile phone balance as a payment method at POS (instead of payment cards and cash).
A Client visits a Merchant’s shop. The Client can pay an invoice on the Merchant’s POS (Point of Sale) — cash desk. The cashier on POS chooses “Paying from a cell phone Balance,” instead of “Paying via VISA / MasterCard.” POS can be used with the implementation of the new alternative payment scheme — paying from a cell phone balance (Mobile Network Operators’ involvement), which is quickly developing and becoming rather popular in many countries.
VISA / MasterCard have already developed a system of POS-terminals payments.
You can also use it for your own benefit, becoming an analog provider.
- Earn on providing analog payment service instead of VISA / MasterCard;
- Synergy cooperation: Merchants would prefer to cut VISA / Mastercard fees through replacement of the payment provider.
- Client authorizes through POS terminal with the use of smart-card or mobile number.
- POS identifies the Client and sends the info to the Merchant.
- Merchant sends the sum of payment to the SDK.finance server.
- SDK.finance sends a request to pay $n, according to the payment method which the Client has chosen (Mobile Network Operator).
- Mobile Network Operator sends the code notification to the Client.
- Client enters confirmation code from his/her cell phone directly.
- Mobile Network Operator informs SDK.finance, Merchant (POS).
- Merchant gives a product to the Client.
- The involved funds are transferred to the Merchant’s Bank account.