The new mobile payment platform will enable Pulse financial institution and merchant partners to rapidly implement contactless payment and cash access functionality to better serve their mobile-minded customers.
Besides working with existing point-of-sale (POS) terminals used by participating merchants, Paydiant’s new mobile wallet also works with both new and existing smartphones, including iPhone and Android devices.
Fitted with a software-only merchant acceptance interface, it can be quickly deployed on any POS or payment terminal, which supports any compatible Paydiant-powered mobile wallet.
It offers a branded white label mobile wallet application, which is configured by the wallet issuer, rather than a third party. It will enable customers to redeem offers at a retail POS and use their mobile wallet to make payments at a retailer, or withdraw cash from a participating ATM.
Pulse product management executive vice president Judith McGuire said, "Paydiant’s platform enables us to offer both our financial institution participants and merchant partners their own branded mobile wallet."
In order to offer maximum security during mobile payment, every transaction uses two-factor authentication and tokenization, claims the company.
